Post Utme Futo 2018 Economics Question 34

Practice objective / multiple choice question 34 from the 2018 Post Utme Futo Economics examination.

Post Utme Futo 2018 Economics Objective / Multiple Choice

Question 34 POST_UTME_FUTO • 2018 • ECONOMICS • objective

A firm is facing a market structure where the demand curve is given by Q = 100 - 2P and the supply curve is given by Q = 20 + 2P. What is the equilibrium price and quantity?

Correct Answer A. P = ₦30, Q = 35

B. P = ₦40, Q = 30

C. P = ₦50, Q = 25

D. P = ₦60, Q = 20

Correct Answer

Correct Option:

P = ₦30, Q = 35

This is Post Utme Futo 2018 Economics Question 34. It is one of the objective questions from the 2018 Post Utme Futo Economics examination.

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