Post Utme Lead City University 2023 Economics Question 30

Practice objective / multiple choice question 30 from the 2023 Post Utme Lead City University Economics examination.

Post Utme Lead City University 2023 Economics Objective / Multiple Choice

Question 30 POST_UTME_LEAD_CITY_UNIVERSITY • 2023 • ECONOMICS • objective

A government wants to implement a subsidy on a particular good to increase its consumption. If the demand for the good is given by Q = 100 - 2P and the supply is given by Q = 2P - 10, what is the optimal price and quantity of the good?

Answer Options

A. P^* = 20, Q^* = 20

Correct Answer B. P^* = 22.5, Q^* = 22.5

C. P^* = 25, Q^* = 25

D. P^* = 30, Q^* = 30

Correct Answer

Correct Option:

P^* = 22.5, Q^* = 22.5

About This Question

This is Post Utme Lead City University 2023 Economics Question 30. It is one of the objective questions from the 2023 Post Utme Lead City University Economics examination.

View More Post Utme Lead City University 2023 Economics Questions More Post Utme Lead City University Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows

Chat with Support