Post Utme Crawford University 2017 Economics Question 23

Practice objective / multiple choice question 23 from the 2017 Post Utme Crawford University Economics examination.

Post Utme Crawford University 2017 Economics Objective / Multiple Choice
Question 23 POST_UTME_CRAWFORD_UNIVERSITY • 2017 • ECONOMICS • objective

The demand and supply curves for a commodity are given by D = 100 - 2p and S = 50 + p respectively, where p is the price of the commodity. What is the equilibrium price and quantity of the commodity?

Answer Options

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

About This Question

This is Post Utme Crawford University 2017 Economics Question 23. It is one of the objective questions from the 2017 Post Utme Crawford University Economics examination.

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