Post Utme Babcock University 2024 Economics Question 34

Practice objective / multiple choice question 34 from the 2024 Post Utme Babcock University Economics examination.

Post Utme Babcock University 2024 Economics Objective / Multiple Choice
Question 34 POST_UTME_BABCOCK_UNIVERSITY • 2024 • ECONOMICS • objective

A firm's demand curve is given by the equation Qd = 100 - 2P, where Qd is the quantity demanded and P is the price. If the firm's supply curve is given by the equation Qs = 2P - 50, where Qs is the quantity supplied, what is the equilibrium price and quantity?

Answer Options

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

About This Question

This is Post Utme Babcock University 2024 Economics Question 34. It is one of the objective questions from the 2024 Post Utme Babcock University Economics examination.

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support