Post Utme Oau 2024 Economics Question 20

Practice objective / multiple choice question 20 from the 2024 Post Utme Oau Economics examination.

Post Utme Oau 2024 Economics Objective / Multiple Choice
Question 20 POST_UTME_OAU • 2024 • ECONOMICS • objective

A perfectly competitive market has a supply curve given by Q = 2P - 100. If the demand curve is given by Q = 200 - 3P, what is the equilibrium price and quantity?

Answer Options

A. P = 50, Q = 100
Correct Answer B. P = 75, Q = 150
C. P = 100, Q = 200
D. P = 125, Q = 250
Correct Answer
B
Correct Option:
P = 75, Q = 150

About This Question

This is Post Utme Oau 2024 Economics Question 20. It is one of the objective questions from the 2024 Post Utme Oau Economics examination.

View More Post Utme Oau 2024 Economics Questions More Post Utme Oau Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support