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

  • A 50litres
  • B 32.5litres
  • C 30litres
  • D 35litres
jamb 2015economics

The correct answer is B. 32.5litres

Qs = 25 + 0.25p

= 25 + 0.25(30) = 25 + 7.5

= 32.5litres

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