Post Utme Lautech 2019 Economics Question 13
Practice objective / multiple choice question 13 from the 2019 Post Utme Lautech Economics examination.
A perfectly competitive market has a demand curve given by P = 100 - 2Q and a supply curve given by P = 20 + 2Q. If the market is initially in equilibrium, and then a shift in demand occurs, cau\sing the demand curve to shift to P = 80 - 2Q, what is the new equilibrium price and quantity?
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About This Question
This is Post Utme Lautech 2019 Economics Question 13. It is one of the objective questions from the 2019 Post Utme Lautech Economics examination.
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