EconomicsTheory of price determinationWAEC
Given Qd = 60 − 2P and Qs = 3P − 15, find the equilibrium price.
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Answer: A. 15
60 − 2P = 3P − 15, so 5P = 75 and P = 15.
An AdmitMe practice question, written for the WAEC syllabus. Not an official past question.