Post Utme Bowen University 2020 Economics Question 29

Practice objective / multiple choice question 29 from the 2020 Post Utme Bowen University Economics examination.

Post Utme Bowen University 2020 Economics Objective / Multiple Choice

Question 29 POST_UTME_BOWEN_UNIVERSITY • 2020 • ECONOMICS • objective

A firm is operating in a perfectly competitive market with a demand curve of Q = 100 - 2P and a supply curve of Q = 20 + 3P. What is the equilibrium price and quantity?

Answer Options

A. P = $10, Q = 60

B. P = $20, Q = 80

Correct Answer C. P = $30, Q = 100

D. P = $40, Q = 120

Correct Answer

Correct Option:

P = $30, Q = 100

About This Question

This is Post Utme Bowen University 2020 Economics Question 29. It is one of the objective questions from the 2020 Post Utme Bowen University Economics examination.

View More Post Utme Bowen University 2020 Economics Questions More Post Utme Bowen 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