Post Utme Igbinedion University 2019 Economics Question 10

Practice objective / multiple choice question 10 from the 2019 Post Utme Igbinedion University Economics examination.

Post Utme Igbinedion University 2019 Economics Objective / Multiple Choice
Question 10 POST_UTME_IGBINEDION_UNIVERSITY • 2019 • ECONOMICS • objective

A firm's demand function is given by Qd = 100 - 2P, where Qd is the quantity demanded and P is the price. If the firm's supply function is given by Qs = 2P - 10, what is the equilibrium price and quantity?

Answer Options

A. ₦20, Q = 40
Correct Answer B. ₦30, Q = 60
C. ₦40, Q = 80
D. ₦50, Q = 100
Correct Answer
B
Correct Option:
₦30, Q = 60

About This Question

This is Post Utme Igbinedion University 2019 Economics Question 10. It is one of the objective questions from the 2019 Post Utme Igbinedion University Economics examination.

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