Correct Answer: Option B

Explanation

Given that Qd = 20 - 4P and Qs = 6P + 12
To solve for excess supply, we will have to substitute '3p'' into both sides of the equation. Hence we have;

Qd = 20 - 4(3) and Qs = 6(3) + 12
20 - 12 = 8
18 + 12 = 30

30 - 8 = 22

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