Post Utme Al Hikmah University 2021 Economics Question 12

Practice objective / multiple choice question 12 from the 2021 Post Utme Al Hikmah University Economics examination.

Post Utme Al Hikmah University 2021 Economics Objective / Multiple Choice

Question 12 POST_UTME_AL-HIKMAH_UNIVERSITY • 2021 • ECONOMICS • objective

A firm is operating under perfect competition. The market demand curve is given by Qd = 100 - 2P, and the market supply curve is given by Qs = 2P. What is the equilibrium price and quantity?

Answer Options

Correct Answer A. P = ₦20, Q = 60

B. P = ₦30, Q = 40

C. P = ₦40, Q = 20

D. P = ₦50, Q = 10

Correct Answer

Correct Option:

P = ₦20, Q = 60

About This Question

This is Post Utme Al Hikmah University 2021 Economics Question 12. It is one of the objective questions from the 2021 Post Utme Al Hikmah University Economics examination.

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