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The demand and supply function of a commodity are given as below. Qd = 20 - 2p Qs = 6p ...

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
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  • A 2 Naira
  • B 4 Naira
  • C 6 Naira
  • D 20 Naira
Correct Answer: Option B
Explanation:

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