Post Utme Pan Atlantic University 2023 Economics Question 22

Practice objective / multiple choice question 22 from the 2023 Post Utme Pan Atlantic University Economics examination.

Post Utme Pan Atlantic University 2023 Economics Objective / Multiple Choice
Question 22 POST_UTME_PAN-ATLANTIC_UNIVERSITY • 2023 • ECONOMICS • objective

A government imposes a tax of ₦10 on every unit of a good sold. If the supply curve of the good is given by Q = 2P - 20, and the demand curve is given by Q = 100 - P, what is the new equilibrium price and quantity after the tax is imposed?

Answer Options

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

About This Question

This is Post Utme Pan Atlantic University 2023 Economics Question 22. It is one of the objective questions from the 2023 Post Utme Pan Atlantic University Economics examination.

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