Post Utme Lead City University 2017 Economics Question 34

Practice objective / multiple choice question 34 from the 2017 Post Utme Lead City University Economics examination.

Post Utme Lead City University 2017 Economics Objective / Multiple Choice

Question 34 POST_UTME_LEAD_CITY_UNIVERSITY • 2017 • ECONOMICS • objective

A firm's demand function for a good is Q = 100 - 2P. If the firm's supply function is Q = 2P - 100, what is the equilibrium price and quantity of the good?

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

Correct Option:

P = ₦75, Q = 75

About This Question

This is Post Utme Lead City University 2017 Economics Question 34. It is one of the objective questions from the 2017 Post Utme Lead City University Economics examination.

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