Post Utme Igbinedion University 2024 Economics Question 31

Practice objective / multiple choice question 31 from the 2024 Post Utme Igbinedion University Economics examination.

Post Utme Igbinedion University 2024 Economics Objective / Multiple Choice
Question 31 POST_UTME_IGBINEDION_UNIVERSITY • 2024 • ECONOMICS • objective

A firm's demand function is given by the equation q = 100 - 2p, where p is the price. If the firm's supply function is given by the equation q = 2p - 10, find the equilibrium price and quantity.

Answer Options

A. 20, 40
B. 30, 50
Correct Answer C. 40, 60
D. 50, 70
Correct Answer
C
Correct Option:
40, 60

About This Question

This is Post Utme Igbinedion University 2024 Economics Question 31. It is one of the objective questions from the 2024 Post Utme Igbinedion University Economics examination.

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