Post Utme Lasu 2019 Economics Question 2

Practice objective / multiple choice question 2 from the 2019 Post Utme Lasu Economics examination.

Post Utme Lasu 2019 Economics Objective / Multiple Choice
Question 2 POST_UTME_LASU • 2019 • ECONOMICS • objective

The demand for a product is given by Qd = 100 - 2P and the supply is given by Qs = 2P. If the price is initially at 20, what is the new equilibrium price?

Answer Options

A. 10
B. 20
Correct Answer C. 30
D. 40
Correct Answer
C
Correct Option:
30

About This Question

This is Post Utme Lasu 2019 Economics Question 2. It is one of the objective questions from the 2019 Post Utme Lasu Economics examination.

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