Post Utme Ksu 2017 Economics Question 5

Practice objective / multiple choice question 5 from the 2017 Post Utme Ksu Economics examination.

Post Utme Ksu 2017 Economics Objective / Multiple Choice

Question 5 POST_UTME_KSU • 2017 • ECONOMICS • objective

Consider a market with a demand function Qd = 100 - 2P and a supply function Qs = 2P. If the market is initially in equilibrium at a price of 20, and the government imposes a tax of 5 on the suppliers, what will be the new equilibrium price and quantity?

Correct Answer A. P = 25, Q = 75

B. P = 30, Q = 70

C. P = 35, Q = 65

D. P = 40, Q = 60

Correct Answer

Correct Option:

P = 25, Q = 75

This is Post Utme Ksu 2017 Economics Question 5. It is one of the objective questions from the 2017 Post Utme Ksu Economics examination.

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