Post Utme Nile University 2020 Economics Question 22

Practice objective / multiple choice question 22 from the 2020 Post Utme Nile University Economics examination.

Post Utme Nile University 2020 Economics Objective / Multiple Choice

Question 22 POST_UTME_NILE_UNIVERSITY • 2020 • ECONOMICS • objective

The demand function for a product is given by q = 100 - 2p. If the supply function is given by q = 2p - 10, what is the equilibrium price and quantity?

Answer Options

Correct Answer A. p = 20, q = 30

B. p = 30, q = 20

C. p = 40, q = 10

D. p = 50, q = 0

Correct Answer

Correct Option:

p = 20, q = 30

About This Question

This is Post Utme Nile University 2020 Economics Question 22. It is one of the objective questions from the 2020 Post Utme Nile University Economics examination.

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