Post Utme Lautech 2021 Economics Question 4

Practice objective / multiple choice question 4 from the 2021 Post Utme Lautech Economics examination.

Post Utme Lautech 2021 Economics Objective / Multiple Choice
Question 4 POST_UTME_LAUTECH • 2021 • ECONOMICS • objective

A firm is operating in a perfectly competitive market with a demand curve given by Qd = 100 - 2P and a supply curve given by Qs = 2P. What is the equilibrium price and quantity?

Answer Options

A. P = ₦50, Q = 50
Correct Answer B. P = ₦75, Q = 75
C. P = ₦100, Q = 100
D. P = ₦125, Q = 125
Correct Answer
B
Correct Option:
P = ₦75, Q = 75

About This Question

This is Post Utme Lautech 2021 Economics Question 4. It is one of the objective questions from the 2021 Post Utme Lautech Economics examination.

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