Post Utme Coal City University 2019 Economics Question 18

Practice objective / multiple choice question 18 from the 2019 Post Utme Coal City University Economics examination.

Post Utme Coal City University 2019 Economics Objective / Multiple Choice
Question 18 POST_UTME_COAL_CITY_UNIVERSITY • 2019 • ECONOMICS • objective

The demand function for a product is given by Q = 100 - 2P, where Q is the quantity demanded and P is the price. If the supply function is given by Q = 2P - 10, find the equilibrium price and quantity.

Answer Options

A. P = 20, Q = 30
B. P = 30, Q = 20
Correct Answer C. P = 25, Q = 25
D. P = 15, Q = 35
Correct Answer
C
Correct Option:
P = 25, Q = 25

About This Question

This is Post Utme Coal City University 2019 Economics Question 18. It is one of the objective questions from the 2019 Post Utme Coal City University Economics examination.

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