Post Utme Futo 2017 Economics Question 1

Practice objective / multiple choice question 1 from the 2017 Post Utme Futo Economics examination.

Post Utme Futo 2017 Economics Objective / Multiple Choice
Question 1 POST_UTME_FUTO • 2017 • ECONOMICS • objective

Determine the equilibrium price and quantity of a commodity when the demand function is given by Qd = 100 - 2P and the supply function is given by Qs = 2P - 10.

Answer Options

A. ₦50, Q = 90
Correct Answer B. ₦40, Q = 80
C. ₦30, Q = 70
D. ₦20, Q = 60
Correct Answer
B
Correct Option:
₦40, Q = 80

About This Question

This is Post Utme Futo 2017 Economics Question 1. It is one of the objective questions from the 2017 Post Utme Futo Economics examination.

View More Post Utme Futo 2017 Economics Questions More Post Utme Futo 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