Post Utme Aaua 2018 Economics Question 1

Practice objective / multiple choice question 1 from the 2018 Post Utme Aaua Economics examination.

Post Utme Aaua 2018 Economics Objective / Multiple Choice
Question 1 POST_UTME_AAUA • 2018 • ECONOMICS • objective

Determine the equilibrium price and quantity of wheat in Nigeria, given the following demand and supply functions: Demand: Qd = 100 - 2P, Supply: Qs = 2P - 50. Assume the market is in equilibrium.

Answer Options

A. ₦50, 150 units
Correct Answer B. ₦75, 100 units
C. ₦25, 200 units
D. ₦100, 50 units
Correct Answer
B
Correct Option:
₦75, 100 units

About This Question

This is Post Utme Aaua 2018 Economics Question 1. It is one of the objective questions from the 2018 Post Utme Aaua Economics examination.

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