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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WAEC 2009