The demand and supply function of a commodity are given as below. Qd = 20...

WAEC 2009

The demand and supply function of a commodity are given as below.
Qd = 20 - 2p
Qs = 6p - 12
Where p = price in naira, Qd = Quantity demanded and Qs = Quantity supplied. The equilibrium price is

A. 2 Naira
B. 4 Naira
C. 6 Naira
D. 20 Naira

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Correct Answer: Option B

Explanation

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