Post Utme Futo 2019 Economics Question 20

Practice objective / multiple choice question 20 from the 2019 Post Utme Futo Economics examination.

Post Utme Futo 2019 Economics Objective / Multiple Choice
Question 20 POST_UTME_FUTO • 2019 • ECONOMICS • objective

The demand function for a product is given by Q = 100 - 2P, where Q is quantity demanded and P is price. If the supply function is given by Q = 2P - 100, find the equilibrium price and quantity.

Answer Options

Correct Answer A. P = ₦50, Q = 50
B. P = ₦75, Q = 25
C. P = ₦100, Q = 0
D. P = ₦200, Q = 100
Correct Answer
A
Correct Option:
P = ₦50, Q = 50

About This Question

This is Post Utme Futo 2019 Economics Question 20. It is one of the objective questions from the 2019 Post Utme Futo Economics examination.

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