Post Utme Coal City University 2021 Economics Question 37

Practice objective / multiple choice question 37 from the 2021 Post Utme Coal City University Economics examination.

Post Utme Coal City University 2021 Economics Objective / Multiple Choice
Question 37 POST_UTME_COAL_CITY_UNIVERSITY • 2021 • ECONOMICS • objective

A firm's demand function is given by Q = 100 - 2P, where Q is quantity demanded and P is price. If the firm's supply function is given by Q = 2P - 100, what is the equilibrium price and quantity?

Answer Options

A. P = 50, Q = 0
Correct Answer B. P = 75, Q = 25
C. P = 100, Q = 0
D. P = 0, Q = 100
Correct Answer
B
Correct Option:
P = 75, Q = 25

About This Question

This is Post Utme Coal City University 2021 Economics Question 37. It is one of the objective questions from the 2021 Post Utme Coal City University Economics examination.

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