Post Utme Abu 2021 Economics Question 4

Practice objective / multiple choice question 4 from the 2021 Post Utme Abu Economics examination.

Post Utme Abu 2021 Economics Objective / Multiple Choice

Question 4 POST_UTME_ABU • 2021 • ECONOMICS • objective

The demand for a product is given by the equation Qd = 100 - 2P, where Qd is demand and P is price. The supply of the product is given by the equation Qs = 2P - 10, where Qs is supply. Find the equilibrium price and quantity.

A. Price = 20, Quantity = 40

Correct Answer B. Price = 30, Quantity = 50

C. Price = 40, Quantity = 60

D. Price = 50, Quantity = 70

Correct Answer

Correct Option:

Price = 30, Quantity = 50

This is Post Utme Abu 2021 Economics Question 4. It is one of the objective questions from the 2021 Post Utme Abu Economics examination.

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