Post Utme Bowen University 2023 Economics Question 8

Practice objective / multiple choice question 8 from the 2023 Post Utme Bowen University Economics examination.

Post Utme Bowen University 2023 Economics Objective / Multiple Choice

Question 8 POST_UTME_BOWEN_UNIVERSITY • 2023 • ECONOMICS • objective

The demand function for a commodity is given by \( p = 100 - 2q \), where p is price and q is quantity demanded. If the supply function is \( p = 50 + 2q \), find the equilibrium price and quantity.

Answer Options

A. p = 50, q = 25

Correct Answer B. p = 75, q = 25

C. p = 100, q = 25

D. p = 75, q = 50

Correct Answer

Correct Option:

p = 75, q = 25

About This Question

This is Post Utme Bowen University 2023 Economics Question 8. It is one of the objective questions from the 2023 Post Utme Bowen University Economics examination.

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