Post Utme Lead City University 2024 Economics Question 14

Practice objective / multiple choice question 14 from the 2024 Post Utme Lead City University Economics examination.

Post Utme Lead City University 2024 Economics Objective / Multiple Choice
Question 14 POST_UTME_LEAD_CITY_UNIVERSITY • 2024 • ECONOMICS • objective

The demand for a commodity is given by Q = 100 - 2P. If the supply curve is given by Q = 2P - 10, what is the equilibrium price and quantity?

Answer Options

A. ₦20, 60 units
Correct Answer B. ₦30, 50 units
C. ₦40, 40 units
D. ₦50, 30 units
Correct Answer
B
Correct Option:
₦30, 50 units

About This Question

This is Post Utme Lead City University 2024 Economics Question 14. It is one of the objective questions from the 2024 Post Utme Lead City University Economics examination.

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