Post Utme Covenant University 2017 Economics Question 36
Practice objective / multiple choice question 36 from the 2017 Post Utme Covenant University Economics examination.
Suppose the demand for a commodity is given by the equation Qd = 100 - 2P, where Qd is the quantity demanded and P is the price. The supply of the commodity is given by the equation Qs = 2P - 50, where Qs is the quantity supplied. If the equilibrium price is 25, what is the equilibrium quantity?
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About This Question
This is Post Utme Covenant University 2017 Economics Question 36. It is one of the objective questions from the 2017 Post Utme Covenant University Economics examination.
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