Post Utme Babcock University 2024 Economics Question 38

Practice objective / multiple choice question 38 from the 2024 Post Utme Babcock University Economics examination.

Post Utme Babcock University 2024 Economics Objective / Multiple Choice
Question 38 POST_UTME_BABCOCK_UNIVERSITY • 2024 • ECONOMICS • objective

A government imposes a tax of ₦5 per unit on a good. If the demand curve for the good is given by the equation Qd = 100 - 2P and the supply curve is given by the equation Qs = 2P - 50, what is the new equilibrium price and quantity?

Answer Options

A. P = 15, Q = 55
B. P = 20, Q = 60
Correct Answer C. P = 25, Q = 65
D. P = 30, Q = 70
Correct Answer
C
Correct Option:
P = 25, Q = 65

About This Question

This is Post Utme Babcock University 2024 Economics Question 38. It is one of the objective questions from the 2024 Post Utme Babcock University Economics examination.

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