Post Utme Delsu 2022 Economics Question 11

Practice objective / multiple choice question 11 from the 2022 Post Utme Delsu Economics examination.

Post Utme Delsu 2022 Economics Objective / Multiple Choice
Question 11 POST_UTME_DELSU • 2022 • ECONOMICS • objective

Consider a perfectly competitive market with n firms, each producing a homogeneous product. If the market demand curve is D(p) = 100 - 2p and the marginal \cost (MC) of each firm is 10, what is the equilibrium price and quantity?

Answer Options

Correct Answer A. \( p = 20, q = 60 \)
B. \( p = 30, q = 50 \)
C. \( p = 40, q = 40 \)
D. \( p = 50, q = 30 \)
Correct Answer
A
Correct Option:
\( p = 20, q = 60 \)

About This Question

This is Post Utme Delsu 2022 Economics Question 11. It is one of the objective questions from the 2022 Post Utme Delsu Economics examination.

View More Post Utme Delsu 2022 Economics Questions More Post Utme Delsu Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support