Post Utme Bells University 2020 Economics Question 39

Practice objective / multiple choice question 39 from the 2020 Post Utme Bells University Economics examination.

Post Utme Bells University 2020 Economics Objective / Multiple Choice
Question 39 POST_UTME_BELLS_UNIVERSITY • 2020 • ECONOMICS • objective

A government is considering a tax on a particular good. The demand curve for the good is given by \( Q = 100 - 2P \) and the supply curve is given by \( Q = 2P \). If the government imposes a tax of (₦5) per unit, what is the new equilibrium price and quantity?

Answer Options

Correct Answer A. \( P = 15, Q = 30 \)
B. \( P = 20, Q = 20 \)
C. \( P = 25, Q = 10 \)
D. \( P = 30, Q = 5 \)
Correct Answer
A
Correct Option:
\( P = 15, Q = 30 \)

About This Question

This is Post Utme Bells University 2020 Economics Question 39. It is one of the objective questions from the 2020 Post Utme Bells 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