Post Utme Greenfield University 2023 Economics Question 12

Practice objective / multiple choice question 12 from the 2023 Post Utme Greenfield University Economics examination.

Post Utme Greenfield University 2023 Economics Objective / Multiple Choice
Question 12 POST_UTME_GREENFIELD_UNIVERSITY • 2023 • ECONOMICS • objective

The demand function for a product is given by Q = 100 - 2P. The supply function is given by Q = 2P - 50. Find the equilibrium price and quantity.

Answer Options

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

About This Question

This is Post Utme Greenfield University 2023 Economics Question 12. It is one of the objective questions from the 2023 Post Utme Greenfield University Economics examination.

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