Post Utme Noun 2021 Economics Question 25

Practice objective / multiple choice question 25 from the 2021 Post Utme Noun Economics examination.

Post Utme Noun 2021 Economics Objective / Multiple Choice
Question 25 POST_UTME_NOUN • 2021 • ECONOMICS • objective

Suppose the demand function for a product is given by Q = 100 - 2P and the supply function is given by Q = 2P - 10. What is the equilibrium price and quantity?

Answer Options

Correct Answer A. P = ₦20, Q = 40
B. P = ₦30, Q = 50
C. P = ₦40, Q = 60
D. P = ₦50, Q = 70
Correct Answer
A
Correct Option:
P = ₦20, Q = 40

About This Question

This is Post Utme Noun 2021 Economics Question 25. It is one of the objective questions from the 2021 Post Utme Noun Economics examination.

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