Post Utme Aaua 2021 Economics Question 2
Practice objective / multiple choice question 2 from the 2021 Post Utme Aaua Economics examination.
The government of Nigeria has implemented a policy to increase the production of rice. The policy involves providing subsidies to farmers and increa\sing the import duty on rice. The supply and demand curves for rice are given by the equations ( S(p) = 100 - 2p ) and ( D(p) = 50 + 3p ) respectively. If the government wants to increase the production of rice, what should be the optimal price of rice?
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About This Question
This is Post Utme Aaua 2021 Economics Question 2. It is one of the objective questions from the 2021 Post Utme Aaua Economics examination.
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