Post Utme Ims U 2024 Economics Question 36

Practice objective / multiple choice question 36 from the 2024 Post Utme Ims U Economics examination.

Post Utme Ims U 2024 Economics Objective / Multiple Choice

Question 36 POST_UTME_IMS_U • 2024 • ECONOMICS • objective

A government is considering a tax on a particular good. The demand for the good is given by Q_d = 100 - 2P, where Q_d is the quantity demanded and P is the price. The supply of the good is given by Q_s = 2P, where Q_s is the quantity supplied. If the government imposes a tax of 5 on the good, what is the new equilibrium price and quantity?

A. P = 10, Q = 50

Correct Answer B. P = 15, Q = 30

C. P = 20, Q = 20

D. P = 25, Q = 10

Correct Answer

Correct Option:

P = 15, Q = 30

This is Post Utme Ims U 2024 Economics Question 36. It is one of the objective questions from the 2024 Post Utme Ims U Economics examination.

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