Post Utme Lead City University 2023 Economics Question 12

Practice objective / multiple choice question 12 from the 2023 Post Utme Lead City University Economics examination.

Post Utme Lead City University 2023 Economics Objective / Multiple Choice

Question 12 POST_UTME_LEAD_CITY_UNIVERSITY • 2023 • 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

A. \( P = 20, Q = 40 \ \)

Correct Answer B. \( P = 30, Q = 50 \ \)

C. \( P = 40, Q = 60 \ \)

D. \( P = 50, Q = 70 \ \)

Correct Answer

Correct Option:

\( P = 30, Q = 50 \ \)

About This Question

This is Post Utme Lead City University 2023 Economics Question 12. It is one of the objective questions from the 2023 Post Utme Lead City University Economics examination.

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