Waec Model Questions Vol1 2021 Economics Question 15
Practice objective / multiple choice question 15 from the 2021 Waec Model Questions Vol1 Economics examination.
In the market for rice the demand function is Qd = 800 - 4P and the supply function is Qs = 200 + 2P, where P is the price paid by buyers (in ₦) and Q is quantity (in units). The government imposes a specific tax of ₦20 per unit on sellers. What is the new equilibrium price paid by buyers (rounded to two decimal places)?
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About This Question
This is Waec Model Questions Vol1 2021 Economics Question 15. It is one of the objective questions from the 2021 Waec Model Questions Vol1 Economics examination.
Difficulty level: Easy .
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