Post Utme Lasu 2020 Economics Question 35

Practice objective / multiple choice question 35 from the 2020 Post Utme Lasu Economics examination.

Post Utme Lasu 2020 Economics Objective / Multiple Choice

Question 35 POST_UTME_LASU • 2020 • ECONOMICS • objective

A firm faces a demand curve \( Q = 100 - 2P \) and a supply curve \( Q = 2P - 20 \). What is the equilibrium price and quantity?

A. \( P = 20, Q = 60 \)

Correct Answer B. \( P = 30, Q = 50 \)

C. \( P = 40, Q = 40 \)

D. \( P = 50, Q = 30 \)

Correct Answer

Correct Option:

\( P = 30, Q = 50 \)

This is Post Utme Lasu 2020 Economics Question 35. It is one of the objective questions from the 2020 Post Utme Lasu Economics examination.

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