Post Utme Christopher University 2021 Economics Question 8

Practice objective / multiple choice question 8 from the 2021 Post Utme Christopher University Economics examination.

Post Utme Christopher University 2021 Economics Objective / Multiple Choice
Question 8 POST_UTME_CHRISTOPHER_UNIVERSITY • 2021 • ECONOMICS • objective

A government imposes a tax of ₦10 on every unit of a good. If the demand function for the good is given by Q = 100 - 2P and the supply function is given by Q = 2P - 10, find the equilibrium price and quantity.

Answer Options

A. P = 20, Q = 40
Correct Answer B. P = 25, Q = 50
C. P = 30, Q = 60
D. P = 35, Q = 70
Correct Answer
B
Correct Option:
P = 25, Q = 50

About This Question

This is Post Utme Christopher University 2021 Economics Question 8. It is one of the objective questions from the 2021 Post Utme Christopher University Economics examination.

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