Post Utme Lead City University 2023 Economics Question 2

Practice objective / multiple choice question 2 from the 2023 Post Utme Lead City University Economics examination.

Post Utme Lead City University 2023 Economics Objective / Multiple Choice

Question 2 POST_UTME_LEAD_CITY_UNIVERSITY • 2023 • ECONOMICS • objective

A country's import demand function is given by M = 100 - 2P + 3Y. If the price of the imported good is P = 20 and the country's income is Y = 100, what is the quantity of imports demanded?

Answer Options

Correct Answer A. \( M = 100 - 2\( 20 \ \) + 3(100) )

B. \( M = 100 - 2\( 100 \ \) + 3(20) )

C. \( M = 100 - 3\( 20 \ \) + 2(100) )

D. \( M = 100 - 3\( 100 \ \) + 2(20) )

Correct Answer

Correct Option:

\( M = 100 - 2\( 20 \ \) + 3(100) )

About This Question

This is Post Utme Lead City University 2023 Economics Question 2. It is one of the objective questions from the 2023 Post Utme Lead City University Economics examination.

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