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The table below shows the supply and demand schedule for apples. Use it to answer...

Economics
WAEC 2024

The table below shows the supply and demand schedule for apples. Use it to answer question 17

 Price  ($)   Quantity demanded   Quantity supplied
 10  50  25
 20  35  35
 30  20  45
 40  5  55

 

At what price is excess supply equal to 25? 

  • A. $10
  • B. $30
  • C. $30
  • D. $40
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Correct Answer: Option C
Explanation

C: When the price is €30, demand is 20 units and supply is 45units making excess supply of 25 units more than demand.

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