Post Utme Covenant University 2017 Economics Question 12

Practice objective / multiple choice question 12 from the 2017 Post Utme Covenant University Economics examination.

Post Utme Covenant University 2017 Economics Objective / Multiple Choice
Question 12 POST_UTME_COVENANT_UNIVERSITY • 2017 • ECONOMICS • objective

A perfectly competitive market has a supply curve given by Qs = 100 - 2P and a demand curve given by Qd = 200 - P. Find the equilibrium price and quantity.

Answer Options

A. P = 50, Q = 100
B. P = 75, Q = 125
Correct Answer C. P = 100, Q = 150
D. P = 125, Q = 175
Correct Answer
C
Correct Option:
P = 100, Q = 150

About This Question

This is Post Utme Covenant University 2017 Economics Question 12. It is one of the objective questions from the 2017 Post Utme Covenant 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