Post Utme Al Hikmah University 2024 Economics Question 37

Practice objective / multiple choice question 37 from the 2024 Post Utme Al Hikmah University Economics examination.

Post Utme Al Hikmah University 2024 Economics Objective / Multiple Choice
Question 37 POST_UTME_AL-HIKMAH_UNIVERSITY • 2024 • ECONOMICS • objective

Suppose the demand function for a product is given by Q = 100 - 2P, where Q is the quantity demanded and P is the price. If the supply function is given by Q = 2P - 100, what is the equilibrium price and quantity?

Answer Options

Correct Answer A. ₦50, Q = 150
B. ₦75, Q = 100
C. ₦100, Q = 50
D. ₦125, Q = 25
Correct Answer
A
Correct Option:
₦50, Q = 150

About This Question

This is Post Utme Al Hikmah University 2024 Economics Question 37. It is one of the objective questions from the 2024 Post Utme Al Hikmah University Economics examination.

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