Post Utme Greenfield University 2018 Economics Question 3

Practice objective / multiple choice question 3 from the 2018 Post Utme Greenfield University Economics examination.

Post Utme Greenfield University 2018 Economics Objective / Multiple Choice
Question 3 POST_UTME_GREENFIELD_UNIVERSITY • 2018 • ECONOMICS • objective

A firm's demand function is given by Qd = 100 - 2P, and its supply function is given by Qs = 2P - 100. What is the equilibrium price and quantity?

Answer Options

A. P = 50, Q = 150
Correct Answer B. P = 75, Q = 100
C. P = 100, Q = 50
D. P = 200, Q = 0
Correct Answer
B
Correct Option:
P = 75, Q = 100

About This Question

This is Post Utme Greenfield University 2018 Economics Question 3. It is one of the objective questions from the 2018 Post Utme Greenfield University Economics examination.

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