Post Utme Greenfield University 2020 Economics Question 35

Practice objective / multiple choice question 35 from the 2020 Post Utme Greenfield University Economics examination.

Post Utme Greenfield University 2020 Economics Objective / Multiple Choice

Question 35 POST_UTME_GREENFIELD_UNIVERSITY • 2020 • ECONOMICS • objective

A firm's demand function is given by Qd = 100 - 2P + 5Y. If the firm's supply function is given by Qs = 20 + 3P - 2Y, what is the equilibrium price and quantity?

Answer Options

A. P = 20, Q = 50

Correct Answer B. P = 30, Q = 60

C. P = 40, Q = 70

D. P = 50, Q = 80

Correct Answer

Correct Option:

P = 30, Q = 60

About This Question

This is Post Utme Greenfield University 2020 Economics Question 35. It is one of the objective questions from the 2020 Post Utme Greenfield University Economics examination.

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