Post Utme Greenfield University 2020 Economics Question 13

Practice objective / multiple choice question 13 from the 2020 Post Utme Greenfield University Economics examination.

Post Utme Greenfield University 2020 Economics Objective / Multiple Choice
Question 13 POST_UTME_GREENFIELD_UNIVERSITY • 2020 • ECONOMICS • objective

A perfectly competitive market has a supply curve given by Q = 2P + 5. If the market demand curve is given by Q = 100 - 2P, what is the equilibrium price and quantity in the market?

Answer Options

Correct Answer A. P = 10, Q = 45
B. P = 15, Q = 35
C. P = 20, Q = 25
D. P = 25, Q = 15
Correct Answer
A
Correct Option:
P = 10, Q = 45

About This Question

This is Post Utme Greenfield University 2020 Economics Question 13. It is one of the objective questions from the 2020 Post Utme Greenfield University Economics examination.

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