Post Utme Osustech 2024 Economics Question 36

Practice objective / multiple choice question 36 from the 2024 Post Utme Osustech Economics examination.

Post Utme Osustech 2024 Economics Objective / Multiple Choice
Question 36 POST_UTME_OSUSTECH • 2024 • ECONOMICS • objective

Consider a perfectly competitive market with n firms, each producing a homogeneous product. If the market demand curve is D(p) = 100 - 2p and the inverse supply curve is S(p) = 2p - 10, find the equilibrium price and quantity.

Answer Options

Correct Answer A. \( p = 15, q = 45 \)
B. \( p = 20, q = 30 \)
C. \( p = 25, q = 35 \)
D. \( p = 30, q = 40 \)
Correct Answer
A
Correct Option:
\( p = 15, q = 45 \)

About This Question

This is Post Utme Osustech 2024 Economics Question 36. It is one of the objective questions from the 2024 Post Utme Osustech Economics examination.

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