Post Utme Eksu 2022 Economics Question 35

Practice objective / multiple choice question 35 from the 2022 Post Utme Eksu Economics examination.

Post Utme Eksu 2022 Economics Objective / Multiple Choice
Question 35 POST_UTME_EKSU • 2022 • ECONOMICS • objective

A firm is producing a good with the following demand and supply functions: D(p) = 100 - 2p and S(p) = 20 + p. U\sing the concept of market equilibrium, find the price and quantity of the good that will be produced and sold.

Answer Options

A. p = 10, q = 40
Correct Answer B. p = 20, q = 60
C. p = 30, q = 80
D. p = 40, q = 100
Correct Answer
B
Correct Option:
p = 20, q = 60

About This Question

This is Post Utme Eksu 2022 Economics Question 35. It is one of the objective questions from the 2022 Post Utme Eksu Economics examination.

View More Post Utme Eksu 2022 Economics Questions More Post Utme Eksu 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