Post Utme Lead City University 2021 Economics Question 7

Practice objective / multiple choice question 7 from the 2021 Post Utme Lead City University Economics examination.

Post Utme Lead City University 2021 Economics Objective / Multiple Choice

Question 7 POST_UTME_LEAD_CITY_UNIVERSITY • 2021 • ECONOMICS • objective

The demand for a commodity is given by \( Q_d = 100 - 2P \) and the supply is given by \( Q_s = 2P - 10 \). Find the equilibrium price and quantity.

Answer Options

Correct Answer A. P = 20, Q = 40

B. P = 30, Q = 50

C. P = 40, Q = 60

D. P = 50, Q = 70

Correct Answer

Correct Option:

P = 20, Q = 40

About This Question

This is Post Utme Lead City University 2021 Economics Question 7. It is one of the objective questions from the 2021 Post Utme Lead City University Economics examination.

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