Post Utme Nile University 2017 Economics Question 38

Practice objective / multiple choice question 38 from the 2017 Post Utme Nile University Economics examination.

Post Utme Nile University 2017 Economics Objective / Multiple Choice
Question 38 POST_UTME_NILE_UNIVERSITY • 2017 • ECONOMICS • objective

A firm's demand curve is given by the equation Qd = 100 - 2P, where Qd is the quantity demanded and P is the price. If the firm's supply curve is given by the equation Qs = 2P - 10, where Qs is the quantity supplied, what is the equilibrium price?

Answer Options

A. $10
Correct Answer B. $15
C. $20
D. $25
Correct Answer
B
Correct Option:
$15

About This Question

This is Post Utme Nile University 2017 Economics Question 38. It is one of the objective questions from the 2017 Post Utme Nile University Economics examination.

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