Post Utme Caleb University 2018 Economics Question 27

Practice objective / multiple choice question 27 from the 2018 Post Utme Caleb University Economics examination.

Post Utme Caleb University 2018 Economics Objective / Multiple Choice
Question 27 POST_UTME_CALEB_UNIVERSITY • 2018 • ECONOMICS • objective

Suppose the demand for a product is given by the equation Qd = 100 - 2P, where Qd is the quantity demanded and P is the price. If the supply of the product is given by the equation Qs = 2P - 100, where Qs is the quantity supplied, what is the equilibrium price?

Answer Options

A. ₦50
Correct Answer B. ₦75
C. ₦100
D. ₦125
Correct Answer
B
Correct Option:
₦75

About This Question

This is Post Utme Caleb University 2018 Economics Question 27. It is one of the objective questions from the 2018 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