Post Utme Elizade University 2018 Economics Question 32

Practice objective / multiple choice question 32 from the 2018 Post Utme Elizade University Economics examination.

Post Utme Elizade University 2018 Economics Objective / Multiple Choice
Question 32 POST_UTME_ELIZADE_UNIVERSITY • 2018 • ECONOMICS • objective

A government is considering a tax on a particular good. The demand for the good is given by the equation Qd = 100 - 2P, and the supply of the good is given by the equation Qs = 2P - 20. If the government imposes a tax of ₦50 per unit on the good, what will be the new equilibrium price and quantity?

Answer Options

A. P = ₦25, Q = 30
Correct Answer B. P = ₦30, Q = 40
C. P = ₦35, Q = 50
D. P = ₦40, Q = 60
Correct Answer
B
Correct Option:
P = ₦30, Q = 40

About This Question

This is Post Utme Elizade University 2018 Economics Question 32. It is one of the objective questions from the 2018 Post Utme Elizade University Economics examination.

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