Post Utme Achievers University 2020 Economics Question 1

Practice objective / multiple choice question 1 from the 2020 Post Utme Achievers University Economics examination.

Post Utme Achievers University 2020 Economics Objective / Multiple Choice
Question 1 POST_UTME_ACHIEVERS_UNIVERSITY • 2020 • ECONOMICS • objective

Determine the equilibrium price and quantity of a commodity in a perfectly competitive market, given the following supply and demand equations: Qd = 100 - 2P, Qs = 50 + 3P.

Answer Options

A. ₦200, 150 units
B. ₦300, 100 units
Correct Answer C. ₦250, 120 units
D. ₦350, 80 units
Correct Answer
C
Correct Option:
₦250, 120 units

About This Question

This is Post Utme Achievers University 2020 Economics Question 1. It is one of the objective questions from the 2020 Post Utme Achievers University Economics examination.

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