Post Utme Ims U 2018 Economics Question 8

Practice objective / multiple choice question 8 from the 2018 Post Utme Ims U Economics examination.

Post Utme Ims U 2018 Economics Objective / Multiple Choice

Question 8 POST_UTME_IMS_U • 2018 • ECONOMICS • objective

A government imposes a tax of ₦10 on a firm's output. If the firm's supply curve is given by Qs = 20 + 2P and the market demand curve is given by Qd = 100 - 2P, what is the new equilibrium price and quantity?

A. \( P = 30, Q = 35 \)

Correct Answer B. \( P = 40, Q = 30 \)

C. \( P = 50, Q = 25 \)

D. \( P = 60, Q = 20 \)

Correct Answer

Correct Option:

\( P = 40, Q = 30 \)

This is Post Utme Ims U 2018 Economics Question 8. It is one of the objective questions from the 2018 Post Utme Ims U Economics examination.

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