Post Utme Lead City University 2022 Economics Question 16

Practice objective / multiple choice question 16 from the 2022 Post Utme Lead City University Economics examination.

Post Utme Lead City University 2022 Economics Objective / Multiple Choice
Question 16 POST_UTME_LEAD_CITY_UNIVERSITY • 2022 • ECONOMICS • objective

Determine the equilibrium price and quantity of a competitive market, given the following supply and demand equations: Qd = 100 - 2P, Qs = 50 + 3P.

Answer Options

A. \( P = 20, Q = 60 \)
Correct Answer B. \( P = 30, Q = 50 \)
C. \( P = 40, Q = 40 \)
D. \( P = 50, Q = 30 \)
Correct Answer
B
Correct Option:
\( P = 30, Q = 50 \)

About This Question

This is Post Utme Lead City University 2022 Economics Question 16. It is one of the objective questions from the 2022 Post Utme Lead City University Economics examination.

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