WAEC Economics 2019 Objective — Question 7
Question 7 of 50 from the West African Examinations Council (WAEC) Economics 2019 Objective paper, with the correct answer and a full explanation.
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If the demand function is Qd = – 0.5p + 20, calculate the quantity demanded when price is $15.00.
- A. –$27.50
- B. –$12.50
- C. $12.50Correct
- D. $27.50
Explanation
Qd = –0.5(15) + 20 = –7.5 + 20 = 12.5.
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