Post Utme Madonna University 2024 Economics Question 25

Practice objective / multiple choice question 25 from the 2024 Post Utme Madonna University Economics examination.

Post Utme Madonna University 2024 Economics Objective / Multiple Choice

Question 25 POST_UTME_MADONNA_UNIVERSITY • 2024 • ECONOMICS • objective

A firm's supply function is given by P(x) = 2x + 10. If the firm's demand function is D(x) = 100 - 5x, find the equilibrium price and quantity.

Answer Options

A. P = 30, Q = 10

Correct Answer B. P = 40, Q = 20

C. P = 50, Q = 30

D. P = 60, Q = 40

Correct Answer

Correct Option:

P = 40, Q = 20

About This Question

This is Post Utme Madonna University 2024 Economics Question 25. It is one of the objective questions from the 2024 Post Utme Madonna University Economics examination.

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