Post Utme Bowen University 2021 Economics Question 34

Practice objective / multiple choice question 34 from the 2021 Post Utme Bowen University Economics examination.

Post Utme Bowen University 2021 Economics Objective / Multiple Choice

Question 34 POST_UTME_BOWEN_UNIVERSITY • 2021 • ECONOMICS • objective

A firm's supply function is given by Q = 2P + 5. If the firm's demand function is Q = 100 - 2P, find the equilibrium price and quantity.

Answer Options

A. P = 10, Q = 15

Correct Answer B. P = 15, Q = 20

C. P = 20, Q = 25

D. P = 25, Q = 30

Correct Answer

Correct Option:

P = 15, Q = 20

About This Question

This is Post Utme Bowen University 2021 Economics Question 34. It is one of the objective questions from the 2021 Post Utme Bowen University Economics examination.

View More Post Utme Bowen University 2021 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