Post Utme Bells University 2024 Economics Question 18

Practice objective / multiple choice question 18 from the 2024 Post Utme Bells University Economics examination.

Post Utme Bells University 2024 Economics Objective / Multiple Choice

Question 18 POST_UTME_BELLS_UNIVERSITY • 2024 • ECONOMICS • objective

A firm's demand function for a particular input is given by Q = 100 - 2P, where Q is the quantity demanded and P is the price. If the firm's supply function is given by Q = 2P + 50, what is the equilibrium price and quantity?

Answer Options

Correct Answer A. ( (P, Q) = (25, 50) )

B. ( (P, Q) = (50, 25) )

C. ( (P, Q) = (75, 25) )

D. ( (P, Q) = (25, 75) )

Correct Answer

Correct Option:

( (P, Q) = (25, 50) )

About This Question

This is Post Utme Bells University 2024 Economics Question 18. It is one of the objective questions from the 2024 Post Utme Bells University Economics examination.

View More Post Utme Bells University 2024 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