Post Utme Oau 2023 Economics Question 12

Practice objective / multiple choice question 12 from the 2023 Post Utme Oau Economics examination.

Post Utme Oau 2023 Economics Objective / Multiple Choice
Question 12 POST_UTME_OAU • 2023 • ECONOMICS • objective
Post Utme Oau 2023 Economics Question 12 diagram

A perfectly competitive market has a demand curve given by P = 100 - 2Q and a supply curve given by P = 20 + 3Q. What is the equilibrium price and quantity?

Answer Options

Correct Answer A. P = 40, Q = 20
B. P = 60, Q = 30
C. P = 80, Q = 40
D. P = 100, Q = 50
Correct Answer
A
Correct Option:
P = 40, Q = 20

About This Question

This is Post Utme Oau 2023 Economics Question 12. It is one of the objective questions from the 2023 Post Utme Oau Economics examination.

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