Post Utme Futa 2019 Economics Question 7

Practice objective / multiple choice question 7 from the 2019 Post Utme Futa Economics examination.

Post Utme Futa 2019 Economics Objective / Multiple Choice

Question 7 POST_UTME_FUTA • 2019 • ECONOMICS • objective

Suppose the demand for a product is given by the equation Qd = 100 - 2P, where Qd is the quantity demanded and P is the price. If the supply function is Qs = 2P - 10, find the equilibrium price and quantity.

A. P = 20, Q = 30

Correct Answer B. P = 15, Q = 25

C. P = 10, Q = 20

D. P = 5, Q = 15

Correct Answer

Correct Option:

P = 15, Q = 25

This is Post Utme Futa 2019 Economics Question 7. It is one of the objective questions from the 2019 Post Utme Futa Economics examination.

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