Post Utme Abu 2021 Economics Question 33

Practice objective / multiple choice question 33 from the 2021 Post Utme Abu Economics examination.

Post Utme Abu 2021 Economics Objective / Multiple Choice
Question 33 POST_UTME_ABU • 2021 • ECONOMICS • objective

The demand for a product is given by the equation Qd = 100 - 2P, where Qd is the quantity demanded and P is the price. The supply of the product is given by the equation Qs = 2P - 100. What is the equilibrium price and quantity?

Answer Options

Correct Answer A. P = 50, Q = 50
B. P = 75, Q = 25
C. P = 100, Q = 0
D. P = 0, Q = 100
Correct Answer
A
Correct Option:
P = 50, Q = 50

About This Question

This is Post Utme Abu 2021 Economics Question 33. It is one of the objective questions from the 2021 Post Utme Abu Economics examination.

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