Post Utme Ims U 2023 Economics Question 16

Practice objective / multiple choice question 16 from the 2023 Post Utme Ims U Economics examination.

Post Utme Ims U 2023 Economics Objective / Multiple Choice
Question 16 POST_UTME_IMS_U • 2023 • ECONOMICS • objective

Suppose a firm's demand function is given by Q = 100 - 2P, and its supply function is given by Q = 2P - 10. U\sing the concept of equilibrium, find the price and quantity at which the firm will operate.

Answer Options

A. Price = 20, Quantity = 30
B. Price = 30, Quantity = 20
Correct Answer C. Price = 25, Quantity = 25
D. Price = 15, Quantity = 35
Correct Answer
C
Correct Option:
Price = 25, Quantity = 25

About This Question

This is Post Utme Ims U 2023 Economics Question 16. It is one of the objective questions from the 2023 Post Utme Ims U Economics examination.

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