Post Utme Noun 2019 Economics Question 4

Practice objective / multiple choice question 4 from the 2019 Post Utme Noun Economics examination.

Post Utme Noun 2019 Economics Objective / Multiple Choice

Question 4 POST_UTME_NOUN • 2019 • ECONOMICS • objective

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

A. P = ₦20, Q = 25

Correct Answer B. P = ₦30, Q = 35

C. P = ₦40, Q = 45

D. P = ₦50, Q = 55

Correct Answer

Correct Option:

P = ₦30, Q = 35

This is Post Utme Noun 2019 Economics Question 4. It is one of the objective questions from the 2019 Post Utme Noun Economics examination.

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