Post Utme Ims U 2020 Economics Question 35

Practice objective / multiple choice question 35 from the 2020 Post Utme Ims U Economics examination.

Post Utme Ims U 2020 Economics Objective / Multiple Choice
Question 35 POST_UTME_IMS_U • 2020 • ECONOMICS • objective

The demand function for a product is given by p = 100 - 2q, where p is the price and q is the quantity demanded. If the supply function is given by p = 20 + 3q, what is the equilibrium price?

Answer Options

A. ₦80
B. ₦90
Correct Answer C. ₦100
D. ₦110
Correct Answer
C
Correct Option:
₦100

About This Question

This is Post Utme Ims U 2020 Economics Question 35. It is one of the objective questions from the 2020 Post Utme Ims U Economics examination.

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support