Post Utme Aaua 2019 Economics Question 12

Practice objective / multiple choice question 12 from the 2019 Post Utme Aaua Economics examination.

Post Utme Aaua 2019 Economics Objective / Multiple Choice
Question 12 POST_UTME_AAUA • 2019 • ECONOMICS • objective

A perfectly competitive market is in equilibrium. The demand curve is D = 100 - 2P and the supply curve is S = 2 + 3P. What is the equilibrium price and quantity?

Answer Options

A. P = 30, Q = 70
Correct Answer B. P = 34, Q = 66
C. P = 38, Q = 62
D. P = 42, Q = 58
Correct Answer
B
Correct Option:
P = 34, Q = 66

About This Question

This is Post Utme Aaua 2019 Economics Question 12. It is one of the objective questions from the 2019 Post Utme Aaua Economics examination.

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