Post Utme Futa 2018 Economics Question 2

Practice objective / multiple choice question 2 from the 2018 Post Utme Futa Economics examination.

Post Utme Futa 2018 Economics Objective / Multiple Choice
Question 2 POST_UTME_FUTA • 2018 • ECONOMICS • objective

A firm's demand curve is given by the equation Qd = 100 - 2P, where Qd is the quantity demanded and P is the price. If the firm's supply curve is given by the equation Qs = 2P - 50, where Qs is the quantity supplied, find the equilibrium price and quantity.

Answer Options

A. P = 25, Q = 75
Correct Answer B. P = 50, Q = 100
C. P = 75, Q = 125
D. P = 100, Q = 150
Correct Answer
B
Correct Option:
P = 50, Q = 100

About This Question

This is Post Utme Futa 2018 Economics Question 2. It is one of the objective questions from the 2018 Post Utme Futa Economics examination.

View More Post Utme Futa 2018 Economics Questions More Post Utme Futa Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support