Question 1 Report
Given that the prices and quantities supplied per period of time in litres of gasoline is expressed as Qs = 25 + 0.25 P, Where Qs is quantity supplied, P is price
(a) Determine the quantity supplied when price per litre is (i) 0 Naira (it) 24 Naira (iii) 40 Naira (iv) 60 Naira (v) 80 Naira
(b) From your calculations in (a)(i) present the supply schedule (ii) draw the supply curve.