EconomicsTheory of price determinationJAMB
Qd = 100 − 4P and Qs = 6P − 20. Find the equilibrium price.
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Answer: C. 12
100 − 4P = 6P − 20 gives 10P = 120, so P = 12.
An AdmitMe practice question, written for the JAMB syllabus. Not an official past question.