Post Utme Nile University 2019 Economics Question 1

Practice objective / multiple choice question 1 from the 2019 Post Utme Nile University Economics examination.

Post Utme Nile University 2019 Economics Objective / Multiple Choice
Question 1 POST_UTME_NILE_UNIVERSITY • 2019 • ECONOMICS • objective

Determine the equilibrium price and quantity of a commodity in a market where the demand function is given by Qd = 100 - 2P and the supply function is given by Qs = 2P - 10. The market price is initially at ₦50.

Answer Options

A. ₦75, 50 units
Correct Answer B. ₦80, 60 units
C. ₦90, 70 units
D. ₦100, 80 units
Correct Answer
B
Correct Option:
₦80, 60 units

About This Question

This is Post Utme Nile University 2019 Economics Question 1. It is one of the objective questions from the 2019 Post Utme Nile University Economics examination.

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