Post Utme Ims U 2019 Economics Question 17

Practice objective / multiple choice question 17 from the 2019 Post Utme Ims U Economics examination.

Post Utme Ims U 2019 Economics Objective / Multiple Choice
Question 17 POST_UTME_IMS_U • 2019 • ECONOMICS • objective

A government increases the tax rate on a particular good from 10% to 20%. If the demand for the good is given by Q = 100 - 2P and the supply is given by Q = 2P - 10, what is the new equilibrium price?

Answer Options

A. ₦15
Correct Answer B. ₦20
C. ₦25
D. ₦30
Correct Answer
B
Correct Option:
₦20

About This Question

This is Post Utme Ims U 2019 Economics Question 17. It is one of the objective questions from the 2019 Post Utme Ims U Economics examination.

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