Post Utme Igbinedion University 2021 Economics Question 32

Practice objective / multiple choice question 32 from the 2021 Post Utme Igbinedion University Economics examination.

Post Utme Igbinedion University 2021 Economics Objective / Multiple Choice
Question 32 POST_UTME_IGBINEDION_UNIVERSITY • 2021 • ECONOMICS • objective

A government is considering a tax on a particular good. The supply curve of the good is given by Q = 100 - 2P, and the demand curve is given by Q = 200 - 5P. If the government imposes a tax of ₦10 per unit on the good, what will be the new equilibrium price and quantity?

Answer Options

A. P = ₦15, Q = 50
B. P = ₦20, Q = 30
Correct Answer C. P = ₦25, Q = 20
D. P = ₦30, Q = 10
Correct Answer
C
Correct Option:
P = ₦25, Q = 20

About This Question

This is Post Utme Igbinedion University 2021 Economics Question 32. It is one of the objective questions from the 2021 Post Utme Igbinedion University Economics examination.

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