Waec Model Questions Vol1 2019 Economics Question 8

Practice objective / multiple choice question 8 from the 2019 Waec Model Questions Vol1 Economics examination.

Waec Model Questions Vol1 2019 Economics Objective / Multiple Choice Easy Difficulty
Question 8 WAEC_MODEL_QUESTIONS_VOL1 • 2019 • ECONOMICS • objective

The market for a certain good is described by the equations Qd = 500 - 5P and Qs = 3P - 30, where Q is quantity and P is price (₦). Find the equilibrium price and quantity.

Answer Options

A. Price ₦60.00, Quantity 150.00 units
Correct Answer B. Price ₦66.25, Quantity 168.75 units
C. Price ₦70.00, Quantity 180.00 units
D. Price ₦65.00, Quantity 165.00 units
Correct Answer
B
Correct Option:
Price ₦66.25, Quantity 168.75 units

About This Question

This is Waec Model Questions Vol1 2019 Economics Question 8. It is one of the objective questions from the 2019 Waec Model Questions Vol1 Economics examination.

Difficulty level: Easy .

View More Waec Model Questions Vol1 2019 Economics Questions More Waec Model Questions Vol1 Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support