Post Utme Bowen University 2019 Economics Question 15

Practice objective / multiple choice question 15 from the 2019 Post Utme Bowen University Economics examination.

Post Utme Bowen University 2019 Economics Objective / Multiple Choice

Question 15 POST_UTME_BOWEN_UNIVERSITY • 2019 • ECONOMICS • objective

Consider a market with a demand function Qd = 100 - 2P and a supply function Qs = 2P + 10. If the market is in equilibrium, what is the price and quantity of the commodity?

Answer Options

A. Price = ₦20, Quantity = 40

Correct Answer B. Price = ₦30, Quantity = 50

C. Price = ₦40, Quantity = 60

D. Price = ₦50, Quantity = 70

Correct Answer

Correct Option:

Price = ₦30, Quantity = 50

About This Question

This is Post Utme Bowen University 2019 Economics Question 15. It is one of the objective questions from the 2019 Post Utme Bowen University Economics examination.

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