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 price. Determine the quantity supplied when price per litre is N30
A. 50litres
B. 32.5litres
C. 30litres
D. 35litres
Correct Answer:
Option B – 32.5 litres
Explanation
Qs = 25 + 0.25p
= 25 + 0.25(30) = 25 + 7.5
= 32.5litres
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