Post Utme Ims U 2017 Economics Question 12

Practice objective / multiple choice question 12 from the 2017 Post Utme Ims U Economics examination.

Post Utme Ims U 2017 Economics Objective / Multiple Choice

Question 12 POST_UTME_IMS_U • 2017 • ECONOMICS • objective

The demand function for a product is given by p = 100 - 2q, where p is the price and q is the quantity demanded. If the supply function is given by p = 2q + 10, what is the equilibrium price and quantity?

Correct Answer A. p = 40, q = 15

B. p = 60, q = 20

C. p = 80, q = 25

D. p = 100, q = 30

Correct Answer

Correct Option:

p = 40, q = 15

This is Post Utme Ims U 2017 Economics Question 12. It is one of the objective questions from the 2017 Post Utme Ims U Economics examination.

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