Post Utme Futo 2024 Economics Question 14
Practice objective / multiple choice question 14 from the 2024 Post Utme Futo Economics examination.
Consider a small open economy with a fixed exchange rate. The country's import demand function is given by \( MD = 100 - 2P \), where ( P ) is the price of imports in domestic currency. The supply function of imports is given by \( MS = 200 + 3P \). Assuming the initial price of imports is \( P = 50 \), calculate the equilibrium quantity of imports.
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About This Question
This is Post Utme Futo 2024 Economics Question 14. It is one of the objective questions from the 2024 Post Utme Futo Economics examination.
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