Post Utme Ims U 2018 Economics Question 2

Practice objective / multiple choice question 2 from the 2018 Post Utme Ims U Economics examination.

Post Utme Ims U 2018 Economics Objective / Multiple Choice
Question 2 POST_UTME_IMS_U • 2018 • ECONOMICS • objective

The demand for a product is given by the equation Qd = 100 - 2P, where Qd is the quantity demanded and P is the price. If the supply function is Qs = 2P - 10, find the equilibrium price and quantity.

Answer Options

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

About This Question

This is Post Utme Ims U 2018 Economics Question 2. It is one of the objective questions from the 2018 Post Utme Ims U Economics examination.

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