WAEC Economics 2024 Objective — Question 17

Question 17 of 50 from the West African Examinations Council (WAEC) Economics 2024 Objective paper, with the correct answer and a full explanation.

17. At what price is excess supply equal to 25? (use the table showing the demand and supply schedule for apples)

• A. $10
• B. $20
• C. $30Correct
• D. $40

Explanation

At a price of $30, quantity demanded is 20 units and quantity supplied is 45 units, giving an excess supply of 25 units (45-20).

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