Post Utme Afe Babalola University 2019 Economics Question 10

Practice objective / multiple choice question 10 from the 2019 Post Utme Afe Babalola University Economics examination.

Post Utme Afe Babalola University 2019 Economics Objective / Multiple Choice

Question 10 POST_UTME_AFE_BABALOLA_UNIVERSITY • 2019 • ECONOMICS • objective

A firm's demand function is given by Q = 100 - 2P. If the firm's supply function is Q = 2P - 10, find the equilibrium price and quantity.

Answer Options

Correct Answer A. P = 20, Q = 30

B. P = 30, Q = 20

C. P = 40, Q = 10

D. P = 50, Q = 0

Correct Answer

Correct Option:

P = 20, Q = 30

About This Question

This is Post Utme Afe Babalola University 2019 Economics Question 10. It is one of the objective questions from the 2019 Post Utme Afe Babalola University Economics examination.

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