Given that the prices and quantities supplied in litres of petrol is expressed as Qs = 25 + 0.25P. Qs is the quantity supplied and P is the price. Determine the quantity supplied when the price per liter is N30
- 50litres
-
32.5litres
- 30litres
- 35litres
The correct answer is: B
Explanation
Qs = 25 + 0.25p
= 25 + 0.25(30) = 25 + 7.5
= 32.5litres