If the demand function is Qd = -0.5 + 20, calculate the quantity demanded when…

Economics WAEC 2019

If the demand function is Qd = -0.5 + 20, calculate the quantity demanded when price is $15.0

  • -%27.50
  • -%12.50
  • $12.50 checkmark
  • -$27.50

The correct answer is: C

Explanation

When price is 15.0, quantity demanded =

Qd = -0.5(15.0)+ 20

Qd = -7.5 + 20 = $12.5

 

Previous Question Next Question

Leave A Comment