Post Utme Futa 2017 Economics Question 28

Practice objective / multiple choice question 28 from the 2017 Post Utme Futa Economics examination.

Post Utme Futa 2017 Economics Objective / Multiple Choice
Question 28 POST_UTME_FUTA • 2017 • ECONOMICS • objective

A country's demand for a good is given by Qd = 100 - 2P, where P is the price of the good. If the country's supply of the good is given by Qs = 2P - 50, find the equilibrium price and quantity of the good.

Answer Options

A. P = 25, Q = 50
B. P = 30, Q = 40
Correct Answer C. P = 35, Q = 30
D. P = 40, Q = 20
Correct Answer
C
Correct Option:
P = 35, Q = 30

About This Question

This is Post Utme Futa 2017 Economics Question 28. It is one of the objective questions from the 2017 Post Utme Futa Economics examination.

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