Waec Model Questions Vol1 2018 Economics Question 26
Practice objective / multiple choice question 26 from the 2018 Waec Model Questions Vol1 Economics examination.
The market for rice is described by the linear demand equation Qd = 500 - 5P and the linear supply equation Qs = 2P - 20, where Q is quantity (in thousands of tonnes) and P is price (in Naira per kilogram). Determine the equilibrium price (to two decimal places).
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About This Question
This is Waec Model Questions Vol1 2018 Economics Question 26. It is one of the objective questions from the 2018 Waec Model Questions Vol1 Economics examination.
Difficulty level: Easy .
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