Post Utme Ims U 2019 Economics Question 37

Practice objective / multiple choice question 37 from the 2019 Post Utme Ims U Economics examination.

Post Utme Ims U 2019 Economics Objective / Multiple Choice
Question 37 POST_UTME_IMS_U • 2019 • ECONOMICS • objective

A government imposes a tax of ₦5 on a firm's output. If the firm's supply curve is given by Q = 2P - 10 and the market demand curve is given by Q = 100 - 2P, what is the new equilibrium price and quantity?

Answer Options

A. Price = ₦20, Quantity = 40 units
Correct Answer B. Price = ₦25, Quantity = 50 units
C. Price = ₦30, Quantity = 60 units
D. Price = ₦35, Quantity = 70 units
Correct Answer
B
Correct Option:
Price = ₦25, Quantity = 50 units

About This Question

This is Post Utme Ims U 2019 Economics Question 37. It is one of the objective questions from the 2019 Post Utme Ims U Economics examination.

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