Post Utme Ims U 2021 Economics Question 28

Practice objective / multiple choice question 28 from the 2021 Post Utme Ims U Economics examination.

Post Utme Ims U 2021 Economics Objective / Multiple Choice

Question 28 POST_UTME_IMS_U • 2021 • ECONOMICS • objective

A firm is producing a good with a demand curve given by Qd = 100 - 2P and a supply curve given by Qs = 2P. What is the equilibrium price and quantity of the good?

A. P = ₦20, Q = 60

Correct Answer B. P = ₦30, Q = 70

C. P = ₦40, Q = 80

D. P = ₦50, Q = 90

Correct Answer

Correct Option:

P = ₦30, Q = 70

This is Post Utme Ims U 2021 Economics Question 28. It is one of the objective questions from the 2021 Post Utme Ims U Economics examination.

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