Post Utme Elizade University 2023 Economics Question 8

Practice objective / multiple choice question 8 from the 2023 Post Utme Elizade University Economics examination.

Post Utme Elizade University 2023 Economics Objective / Multiple Choice
Question 8 POST_UTME_ELIZADE_UNIVERSITY • 2023 • ECONOMICS • objective

A country's import demand function is given by Qd = 100 - 2P, where Qd is the quantity demanded and P is the price. If the country's export supply function is given by Qs = 50 + P, what is the equilibrium price and quantity?

Answer Options

Correct Answer A. P = ₦50, Q = 75
B. P = ₦75, Q = 50
C. P = ₦100, Q = 25
D. P = ₦25, Q = 100
Correct Answer
A
Correct Option:
P = ₦50, Q = 75

About This Question

This is Post Utme Elizade University 2023 Economics Question 8. It is one of the objective questions from the 2023 Post Utme Elizade University Economics examination.

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