Post Utme Futo 2017 Economics Question 2

Practice objective / multiple choice question 2 from the 2017 Post Utme Futo Economics examination.

Post Utme Futo 2017 Economics Objective / Multiple Choice
Question 2 POST_UTME_FUTO • 2017 • ECONOMICS • objective

A government imposes a tax of ₦10 on a commodity. If the demand function is given by Qd = 100 - 2P and the supply function is given by Qs = 2P - 10, determine the new equilibrium price and quantity.

Answer Options

Correct Answer A. ₦45, Q = 75
B. ₦40, Q = 70
C. ₦35, Q = 65
D. ₦30, Q = 60
Correct Answer
A
Correct Option:
₦45, Q = 75

About This Question

This is Post Utme Futo 2017 Economics Question 2. It is one of the objective questions from the 2017 Post Utme Futo Economics examination.

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