Post Utme Pan Atlantic University 2022 Economics Question 36

Practice objective / multiple choice question 36 from the 2022 Post Utme Pan Atlantic University Economics examination.

Post Utme Pan Atlantic University 2022 Economics Objective / Multiple Choice
Question 36 POST_UTME_PAN-ATLANTIC_UNIVERSITY • 2022 • ECONOMICS • objective

The demand for a product is given by the demand curve \( Q_d = 100 - 2P \), where Q_d is the quantity demanded and P is the price. If the supply curve is given by \( Q_s = 2P - 100 \), what is the equilibrium price and quantity?

Answer Options

Correct Answer A. P = 50, Q = 50
B. P = 75, Q = 25
C. P = 25, Q = 75
D. P = 100, Q = 0
Correct Answer
A
Correct Option:
P = 50, Q = 50

About This Question

This is Post Utme Pan Atlantic University 2022 Economics Question 36. It is one of the objective questions from the 2022 Post Utme Pan Atlantic University Economics examination.

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