Post Utme Ksu 2022 Economics Question 27

Practice objective / multiple choice question 27 from the 2022 Post Utme Ksu Economics examination.

Post Utme Ksu 2022 Economics Objective / Multiple Choice
Question 27 POST_UTME_KSU • 2022 • ECONOMICS • objective

Suppose a firm faces a demand curve given by Q = 100 - 2P, and its supply curve is given by Q = 2P. What is the equilibrium price and quantity?

Answer Options

A. \( P = 20, Q = 60 \)
B. \( P = 30, Q = 50 \)
Correct Answer C. \( P = 40, Q = 40 \)
D. \( P = 50, Q = 30 \)
Correct Answer
C
Correct Option:
\( P = 40, Q = 40 \)

About This Question

This is Post Utme Ksu 2022 Economics Question 27. It is one of the objective questions from the 2022 Post Utme Ksu Economics examination.

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