Post Utme Mountain Top University 2017 Economics Question 14

Practice objective / multiple choice question 14 from the 2017 Post Utme Mountain Top University Economics examination.

Post Utme Mountain Top University 2017 Economics Objective / Multiple Choice
Question 14 POST_UTME_MOUNTAIN_TOP_UNIVERSITY • 2017 • ECONOMICS • objective

A firm faces a demand curve given by Q = 100 - 2P and a supply curve given by Q = 2P + 50. What is the equilibrium price and quantity?

Answer Options

Correct Answer A. \( P = 25, Q = 50 \)
B. \( P = 50, Q = 25 \)
C. \( P = 75, Q = 50 \)
D. \( P = 50, Q = 75 \)
Correct Answer
A
Correct Option:
\( P = 25, Q = 50 \)

About This Question

This is Post Utme Mountain Top University 2017 Economics Question 14. It is one of the objective questions from the 2017 Post Utme Mountain Top University Economics examination.

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