Post Utme Abu 2022 Economics Question 1

Practice objective / multiple choice question 1 from the 2022 Post Utme Abu Economics examination.

Post Utme Abu 2022 Economics Objective / Multiple Choice
Question 1 POST_UTME_ABU • 2022 • ECONOMICS • objective

Determine the equilibrium price and quantity of a perfectly competitive market, given the following demand and supply functions: Qd = 100 - 2P, Qs = 2P - 50.

Answer Options

A. ₦200, 75 units
Correct Answer B. ₦150, 50 units
C. ₦250, 100 units
D. ₦300, 125 units
Correct Answer
B
Correct Option:
₦150, 50 units

About This Question

This is Post Utme Abu 2022 Economics Question 1. It is one of the objective questions from the 2022 Post Utme Abu Economics examination.

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