Post Utme Noun 2020 Economics Question 33

Practice objective / multiple choice question 33 from the 2020 Post Utme Noun Economics examination.

Post Utme Noun 2020 Economics Objective / Multiple Choice
Question 33 POST_UTME_NOUN • 2020 • ECONOMICS • objective

Consider a market with the following supply and demand functions: Q^s = 50 + 2P and Q^d = 100 - 3P. If the market is in equilibrium, calculate the equilibrium price and quantity.

Answer Options

Correct Answer A. P = ₦20, Q = 80
B. P = ₦25, Q = 75
C. P = ₦30, Q = 70
D. P = ₦35, Q = 65
Correct Answer
A
Correct Option:
P = ₦20, Q = 80

About This Question

This is Post Utme Noun 2020 Economics Question 33. It is one of the objective questions from the 2020 Post Utme Noun Economics examination.

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