Post Utme Ims U 2017 Economics Question 5

Practice objective / multiple choice question 5 from the 2017 Post Utme Ims U Economics examination.

Post Utme Ims U 2017 Economics Objective / Multiple Choice

Question 5 POST_UTME_IMS_U • 2017 • ECONOMICS • objective

A government imposes a tax of ₦10 on a good that is sold at a price of ₦50. If the demand for the good is given by \( Q = 100 - 2P \) and the supply of the good is given by \( Q = 2P - 100 \), find the new equilibrium price and quantity.

Correct Answer A. P = 40, Q = 60

B. P = 30, Q = 70

C. P = 20, Q = 80

D. P = 10, Q = 90

Correct Answer

Correct Option:

P = 40, Q = 60

This is Post Utme Ims U 2017 Economics Question 5. It is one of the objective questions from the 2017 Post Utme Ims U Economics examination.

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