This was a very popular question among candidates. It required that they use demand and supply functions to determine the levels of demand and supply for a given product. They were also required plot graphical illustration of the demand and supply functions.
Candidates who performed creditably were able to give the quantity demanded and supplied of the commodity at each level of price. They were also able to plot the demand and supply curves on a single graph and state the equilibrium quantity demanded and supplied which were 14. The equilibrium price was $2 and at the price of $5 the excess supply was 15.