Post Utme Lasu 2023 Economics Question 14

Practice objective / multiple choice question 14 from the 2023 Post Utme Lasu Economics examination.

Post Utme Lasu 2023 Economics Objective / Multiple Choice

Question 14 POST_UTME_LASU • 2023 • ECONOMICS • objective

A government is considering implementing a tax on a particular good. The demand curve for the good is given by Q = 100 - 2P, and the supply curve is given by Q = 20 + 2P. If the government wants to raise revenue of ₦1000, what is the optimal tax rate?

A. P = 20, Q = 40

Correct Answer B. P = 30, Q = 35

C. P = 40, Q = 30

D. P = 50, Q = 25

Correct Answer

Correct Option:

P = 30, Q = 35

This is Post Utme Lasu 2023 Economics Question 14. It is one of the objective questions from the 2023 Post Utme Lasu Economics examination.

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