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The supply of rice in tons is given by the equation: Qs -80 - 0.7P =...

Economics
WAEC 2016

The supply of rice in tons is given by the equation:
Qs -80 - 0.7P = 0.
Where Qs = Quantity supplied
P = price in naira.

Find Qs, when P = N40

  • A. 108ton
  • B. 52tons
  • C. -52tons
  • D. -108tons
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Correct Answer: Option A
Explanation

Qs = - 80 - 0.7p = 0
Qs = - 80 - 0.7(40) = 0
Qs = 80 + 28
Qs = 108tons

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