Post Utme Lead City University 2022 Economics Question 14

Practice objective / multiple choice question 14 from the 2022 Post Utme Lead City University Economics examination.

Post Utme Lead City University 2022 Economics Objective / Multiple Choice

Question 14 POST_UTME_LEAD_CITY_UNIVERSITY • 2022 • ECONOMICS • objective

A government imposes a tax of ₦10 per unit on a good. If the demand function for the good is given by Q = 100 - 2P and the supply function is given by Q = 2P - 100, what is the new equilibrium price and quantity?

Answer Options

A. P = ₦60, Q = 60

B. P = ₦80, Q = 80

Correct Answer C. P = ₦100, Q = 100

D. P = ₦120, Q = 120

Correct Answer

Correct Option:

P = ₦100, Q = 100

About This Question

This is Post Utme Lead City University 2022 Economics Question 14. It is one of the objective questions from the 2022 Post Utme Lead City University Economics examination.

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