Post Utme Elizade University 2017 Economics Question 1

Practice objective / multiple choice question 1 from the 2017 Post Utme Elizade University Economics examination.

Post Utme Elizade University 2017 Economics Objective / Multiple Choice
Question 1 POST_UTME_ELIZADE_UNIVERSITY • 2017 • ECONOMICS • objective

Determine the equilibrium price and quantity of a commodity when the demand function is given by Qd = 100 - 2P and the supply function is given by Qs = 2P - 10, where Qd and Qs are in units and P is in dollars.

Answer Options

A. $15, 40 units
Correct Answer B. $20, 30 units
C. $25, 20 units
D. $30, 10 units
Correct Answer
B
Correct Option:
$20, 30 units

About This Question

This is Post Utme Elizade University 2017 Economics Question 1. It is one of the objective questions from the 2017 Post Utme Elizade University Economics examination.

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