Waec Model Questions Vol1 2019 Economics Question 20

Practice objective / multiple choice question 20 from the 2019 Waec Model Questions Vol1 Economics examination.

Waec Model Questions Vol1 2019 Economics Objective / Multiple Choice Easy Difficulty
Question 20 WAEC_MODEL_QUESTIONS_VOL1 • 2019 • ECONOMICS • objective

The demand for a good is given by P = 200 - 2Q and the supply by P = 20 + Q, where P is price in Naira and Q is quantity. Find the equilibrium price and quantity.

Answer Options

A. Price = 200 Naira, Quantity = 180 units
B. Price = 53 Naira, Quantity = 73 units
C. Price = 50 Naira, Quantity = 30 units
Correct Answer D. Price = 80 Naira, Quantity = 60 units
Correct Answer
D
Correct Option:
Price = 80 Naira, Quantity = 60 units

About This Question

This is Waec Model Questions Vol1 2019 Economics Question 20. It is one of the objective questions from the 2019 Waec Model Questions Vol1 Economics examination.

Difficulty level: Easy .

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