EconomicsTheory of price determinationJAMB
Using Qd = 100 − 4P and Qs = 6P − 20, find the equilibrium quantity.
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Answer: D. 52
At P = 12, Qd = 100 − 48 = 52.
An AdmitMe practice question, written for the JAMB syllabus. Not an official past question.