Post Utme Redeemers University 2018 Economics Question 12

Practice objective / multiple choice question 12 from the 2018 Post Utme Redeemers University Economics examination.

Post Utme Redeemers University 2018 Economics Objective / Multiple Choice
Question 12 POST_UTME_REDEEMERS_UNIVERSITY • 2018 • ECONOMICS • objective

A country's export demand function is given by X = 100 - 2P, where X is the quantity exported and P is the price. The import demand function is given by M = 50 - P. Find the equilibrium price and quantity.

Answer Options

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

About This Question

This is Post Utme Redeemers University 2018 Economics Question 12. It is one of the objective questions from the 2018 Post Utme Redeemers University Economics examination.

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