Post Utme Al Hikmah University 2021 Economics Question 18

Practice objective / multiple choice question 18 from the 2021 Post Utme Al Hikmah University Economics examination.

Post Utme Al Hikmah University 2021 Economics Objective / Multiple Choice

Question 18 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 18. It is one of the objective questions from the 2021 Post Utme Al Hikmah University Economics examination.

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