EconomicsTheory of price determinationWAEC
Given Qd = 60 − 2P and Qs = 3P − 15, find the quantity bought and sold at equilibrium.
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Answer: C. 30
At P = 15, Qd = 60 − 30 = 30 and Qs = 45 − 15 = 30.
An AdmitMe practice question, written for the WAEC syllabus. Not an official past question.