Post Utme Abu 2017 Economics Question 1

Practice objective / multiple choice question 1 from the 2017 Post Utme Abu Economics examination.

Post Utme Abu 2017 Economics Objective / Multiple Choice
Question 1 POST_UTME_ABU • 2017 • ECONOMICS • objective

Determine the equilibrium price and quantity of wheat in the market, given the demand function Qd = 100 - 2P and the supply function Qs = 2P - 10, where P is the price in naira.

Answer Options

Correct Answer A. ₦15, 50 units
B. ₦20, 30 units
C. ₦25, 20 units
D. ₦30, 10 units
Correct Answer
A
Correct Option:
₦15, 50 units

About This Question

This is Post Utme Abu 2017 Economics Question 1. It is one of the objective questions from the 2017 Post Utme Abu Economics examination.

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