Post Utme Mountain Top University 2023 Economics Question 1

Practice objective / multiple choice question 1 from the 2023 Post Utme Mountain Top University Economics examination.

Post Utme Mountain Top University 2023 Economics Objective / Multiple Choice
Question 1 POST_UTME_MOUNTAIN_TOP_UNIVERSITY • 2023 • ECONOMICS • objective

A firm is operating in a perfectly competitive market with a demand curve given by Q = 100 - 2P and a supply curve given by Q = 2P - 10. What is the equilibrium price and quantity?

Answer Options

Correct Answer A. \( P = 15, Q = 35 \)
B. \( P = 20, Q = 30 \)
C. \( P = 25, Q = 25 \)
D. \( P = 30, Q = 20 \)
Correct Answer
A
Correct Option:
\( P = 15, Q = 35 \)

About This Question

This is Post Utme Mountain Top University 2023 Economics Question 1. It is one of the objective questions from the 2023 Post Utme Mountain Top University Economics examination.

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