Post Utme Esut 2018 Economics Question 7

Practice objective / multiple choice question 7 from the 2018 Post Utme Esut Economics examination.

Post Utme Esut 2018 Economics Objective / Multiple Choice
Question 7 POST_UTME_ESUT • 2018 • ECONOMICS • objective

The demand for a product is given by the equation P = 100 - 2Q, where P is the price and Q is the quantity demanded. The supply of the product is given by the equation P = 50 + Q. What is the equilibrium price and quantity?

Answer Options

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

About This Question

This is Post Utme Esut 2018 Economics Question 7. It is one of the objective questions from the 2018 Post Utme Esut Economics examination.

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