Post Utme Osustech 2024 Economics Question 34

Practice objective / multiple choice question 34 from the 2024 Post Utme Osustech Economics examination.

Post Utme Osustech 2024 Economics Objective / Multiple Choice
Question 34 POST_UTME_OSUSTECH • 2024 • ECONOMICS • objective

Consider a market with a demand function Qd = 100 - 2P and a supply function Qs = 2P - 10. If the market is in equilibrium, what is the price and quantity of the good?

Answer Options

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

About This Question

This is Post Utme Osustech 2024 Economics Question 34. It is one of the objective questions from the 2024 Post Utme Osustech Economics examination.

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