Post Utme Delsu 2019 Economics Question 34

Practice objective / multiple choice question 34 from the 2019 Post Utme Delsu Economics examination.

Post Utme Delsu 2019 Economics Objective / Multiple Choice

Question 34 POST_UTME_DELSU • 2019 • ECONOMICS • objective

A country's demand for a particular good is given by the demand function Q = 100 - 2P, where Q is the quantity demanded and P is the price. If the supply function is given by Q = 50 + 3P, what is the equilibrium price and quantity?

A. Price = $20, Quantity = 80

Correct Answer B. Price = $30, Quantity = 100

C. Price = $40, Quantity = 120

D. Price = $50, Quantity = 140

Correct Answer

Correct Option:

Price = $30, Quantity = 100

This is Post Utme Delsu 2019 Economics Question 34. It is one of the objective questions from the 2019 Post Utme Delsu Economics examination.

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