Post Utme Caleb University 2017 Economics Question 21

Practice objective / multiple choice question 21 from the 2017 Post Utme Caleb University Economics examination.

Post Utme Caleb University 2017 Economics Objective / Multiple Choice
Question 21 POST_UTME_CALEB_UNIVERSITY • 2017 • ECONOMICS • objective

Determine the equilibrium price and quantity of a commodity in a market where the demand function is given by Qd = 100 - 2P and the supply function is given by Qs = 2P - 10.

Answer Options

A. ₦50, 50 units
B. ₦75, 25 units
Correct Answer C. ₦100, 0 units
D. ₦125, 50 units
Correct Answer
C
Correct Option:
₦100, 0 units

About This Question

This is Post Utme Caleb University 2017 Economics Question 21. It is one of the objective questions from the 2017 Post Utme Caleb University Economics examination.

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