Post Utme Elizade University 2018 Economics Question 24

Practice objective / multiple choice question 24 from the 2018 Post Utme Elizade University Economics examination.

Post Utme Elizade University 2018 Economics Objective / Multiple Choice
Question 24 POST_UTME_ELIZADE_UNIVERSITY • 2018 • ECONOMICS • objective

A government imposes a tax of ₦10 on a good that is currently priced at ₦50. If the demand for the good is given by the equation \( Q = 100 - 2P \), find the new equilibrium price and quantity.

Answer Options

Correct Answer A. \( P = 40, Q = 60 \)
B. \( P = 30, Q = 70 \)
C. \( P = 20, Q = 80 \)
D. \( P = 10, Q = 90 \)
Correct Answer
A
Correct Option:
\( P = 40, Q = 60 \)

About This Question

This is Post Utme Elizade University 2018 Economics Question 24. It is one of the objective questions from the 2018 Post Utme Elizade University Economics examination.

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