Post Utme Crawford University 2019 Economics Question 22

Practice objective / multiple choice question 22 from the 2019 Post Utme Crawford University Economics examination.

Post Utme Crawford University 2019 Economics Objective / Multiple Choice
Question 22 POST_UTME_CRAWFORD_UNIVERSITY • 2019 • ECONOMICS • objective

The demand for a product is given by the equation Qd = 100 - 2P, where Qd is the quantity demanded and P is the price. If the supply of the product is given by the equation Qs = 2P - 10, what is the equilibrium price and quantity?

Answer Options

A. ₦50, Q = 20
Correct Answer B. ₦60, Q = 25
C. ₦70, Q = 30
D. ₦80, Q = 35
Correct Answer
B
Correct Option:
₦60, Q = 25

About This Question

This is Post Utme Crawford University 2019 Economics Question 22. It is one of the objective questions from the 2019 Post Utme Crawford University Economics examination.

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