Post Utme Noun 2020 Economics Question 30

Practice objective / multiple choice question 30 from the 2020 Post Utme Noun Economics examination.

Post Utme Noun 2020 Economics Objective / Multiple Choice
Question 30 POST_UTME_NOUN • 2020 • ECONOMICS • objective

A firm's demand function is given by Q = 100 - 2P. If the firm's supply function is Q = 2P - 5, calculate the equilibrium price and quantity.

Answer Options

A. P = ₦20, Q = 50
B. P = ₦25, Q = 75
Correct Answer C. P = ₦30, Q = 100
D. P = ₦35, Q = 125
Correct Answer
C
Correct Option:
P = ₦30, Q = 100

About This Question

This is Post Utme Noun 2020 Economics Question 30. It is one of the objective questions from the 2020 Post Utme Noun Economics examination.

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