Post Utme Bells University 2023 Economics Question 38

Practice objective / multiple choice question 38 from the 2023 Post Utme Bells University Economics examination.

Post Utme Bells University 2023 Economics Objective / Multiple Choice

Question 38 POST_UTME_BELLS_UNIVERSITY • 2023 • ECONOMICS • objective

A firm's demand function is given by Q = 100 - 2P. If the firm's supply function is Q = 2P - 10, what is the firm's equilibrium price and quantity?

Answer Options

A. P = ₦20, Q = 30

Correct Answer B. P = ₦30, Q = 40

C. P = ₦40, Q = 50

D. P = ₦50, Q = 60

Correct Answer

Correct Option:

P = ₦30, Q = 40

About This Question

This is Post Utme Bells University 2023 Economics Question 38. It is one of the objective questions from the 2023 Post Utme Bells University Economics examination.

View More Post Utme Bells University 2023 Economics Questions More Post Utme Bells University Practice Questions Back to Questions

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