Post Utme Noun 2021 Economics Question 8

Practice objective / multiple choice question 8 from the 2021 Post Utme Noun Economics examination.

Post Utme Noun 2021 Economics Objective / Multiple Choice
Question 8 POST_UTME_NOUN • 2021 • ECONOMICS • objective

A firm's demand function is Q = 100 - 2P, and its supply function is Q = 2P - 100. What is the equilibrium price and quantity?

Answer Options

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

About This Question

This is Post Utme Noun 2021 Economics Question 8. It is one of the objective questions from the 2021 Post Utme Noun Economics examination.

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