Post Utme Lasu 2020 Economics Question 30

Practice objective / multiple choice question 30 from the 2020 Post Utme Lasu Economics examination.

Post Utme Lasu 2020 Economics Objective / Multiple Choice
Question 30 POST_UTME_LASU • 2020 • ECONOMICS • objective

A government imposes a tax of ₦10 on each unit of a good. If the pre-tax price of the good is ₦20, and the demand function for the good is given by Q = 100 - 2P, calculate the new price of the good and the quantity demanded after the tax is imposed.

Answer Options

Correct Answer A. New price = ₦25, Quantity demanded = 40
B. New price = ₦30, Quantity demanded = 30
C. New price = ₦35, Quantity demanded = 20
D. New price = ₦40, Quantity demanded = 10
Correct Answer
A
Correct Option:
New price = ₦25, Quantity demanded = 40

About This Question

This is Post Utme Lasu 2020 Economics Question 30. It is one of the objective questions from the 2020 Post Utme Lasu Economics examination.

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