Post Utme Coal City University 2020 Economics Question 31

Practice objective / multiple choice question 31 from the 2020 Post Utme Coal City University Economics examination.

Post Utme Coal City University 2020 Economics Objective / Multiple Choice

Question 31 POST_UTME_COAL_CITY_UNIVERSITY • 2020 • ECONOMICS • objective

A firm's demand function for a good is given by Q = 100 - 2P. If the firm's supply function is given by Q = 50 + 5P, what is the equilibrium price and quantity of the good?

Answer Options

Correct Answer A. P = 20, Q = 60

B. P = 30, Q = 70

C. P = 40, Q = 80

D. P = 50, Q = 90

Correct Answer

Correct Option:

P = 20, Q = 60

About This Question

This is Post Utme Coal City University 2020 Economics Question 31. It is one of the objective questions from the 2020 Post Utme Coal City University Economics examination.

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