Post Utme Covenant University 2019 Economics Question 3

Practice objective / multiple choice question 3 from the 2019 Post Utme Covenant University Economics examination.

Post Utme Covenant University 2019 Economics Objective / Multiple Choice

Question 3 POST_UTME_COVENANT_UNIVERSITY • 2019 • ECONOMICS • objective

Post Utme Covenant University 2019 Economics Question 3 diagram

A firm's demand and supply curves are given by P = 50 + 2Q and P = 20 + Q respectively. What is the equilibrium price and quantity?

Answer Options

Correct Answer A. P = 35, Q = 10

B. P = 30, Q = 15

C. P = 25, Q = 20

D. P = 20, Q = 25

Correct Answer

Correct Option:

P = 35, Q = 10

About This Question

This is Post Utme Covenant University 2019 Economics Question 3. It is one of the objective questions from the 2019 Post Utme Covenant University Economics examination.

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