Post Utme Noun 2021 Economics Question 16

Practice objective / multiple choice question 16 from the 2021 Post Utme Noun Economics examination.

Post Utme Noun 2021 Economics Objective / Multiple Choice
Question 16 POST_UTME_NOUN • 2021 • ECONOMICS • objective

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

Answer Options

A. P = 50, Q = 0
Correct Answer B. P = 75, Q = 25
C. P = 100, Q = 0
D. P = 50, Q = 50
Correct Answer
B
Correct Option:
P = 75, Q = 25

About This Question

This is Post Utme Noun 2021 Economics Question 16. It is one of the objective questions from the 2021 Post Utme Noun Economics examination.

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