Post Utme Oau 2019 Economics Question 3

Practice objective / multiple choice question 3 from the 2019 Post Utme Oau Economics examination.

Post Utme Oau 2019 Economics Objective / Multiple Choice

Question 3 POST_UTME_OAU • 2019 • ECONOMICS • objective

The demand for a product is given by the equation Qd = 100 - 2P, where Qd is the quantity demanded and P is the price. If the supply of the product is given by the equation Qs = 2P - 100, where Qs is the quantity supplied and P is the price, what is the equilibrium price and quantity?

Correct Answer A. P = 50, Q = 50

B. P = 75, Q = 25

C. P = 100, Q = 0

D. P = 0, Q = 100

Correct Answer

Correct Option:

P = 50, Q = 50

This is Post Utme Oau 2019 Economics Question 3. It is one of the objective questions from the 2019 Post Utme Oau Economics examination.

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