Post Utme Greenfield University 2022 Economics Question 42

Practice objective / multiple choice question 42 from the 2022 Post Utme Greenfield University Economics examination.

Post Utme Greenfield University 2022 Economics Objective / Multiple Choice
Question 42 POST_UTME_GREENFIELD_UNIVERSITY • 2022 • ECONOMICS • objective

The demand for a product is given by Qd = 100 - 2P, where Qd is the quantity demanded and P is the price. The supply of the product is given by Qs = 2P - 100, where Qs is the quantity supplied. What is the equilibrium price and quantity in the market?

Answer Options

A. P = 50, Q = 50
Correct Answer B. P = 75, Q = 75
C. P = 100, Q = 100
D. P = 125, Q = 125
Correct Answer
B
Correct Option:
P = 75, Q = 75

About This Question

This is Post Utme Greenfield University 2022 Economics Question 42. It is one of the objective questions from the 2022 Post Utme Greenfield University Economics examination.

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