Post Utme Lautech 2024 Economics Question 20

Practice objective / multiple choice question 20 from the 2024 Post Utme Lautech Economics examination.

Post Utme Lautech 2024 Economics Objective / Multiple Choice
Question 20 POST_UTME_LAUTECH • 2024 • ECONOMICS • objective

A firm's demand function is given by the equation Q = 100 - 2P, where Q is the quantity demanded and P is the price. If the firm's supply function is Q = 50 + 3P, find the equilibrium price and quantity.

Answer Options

A. 20, 60
B. 30, 70
Correct Answer C. 40, 80
D. 50, 90
Correct Answer
C
Correct Option:
40, 80

About This Question

This is Post Utme Lautech 2024 Economics Question 20. It is one of the objective questions from the 2024 Post Utme Lautech Economics examination.

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