Post Utme Redeemers University 2025 Economics Question 4

Practice objective / multiple choice question 4 from the 2025 Post Utme Redeemers University Economics examination.

Post Utme Redeemers University 2025 Economics Objective / Multiple Choice
Question 4 POST_UTME_REDEEMERS_UNIVERSITY • 2025 • ECONOMICS • objective

A firm's demand function is given by Q = 100 - 2P. If the firm's supply function is given by Q = 2P - 50, what is the equilibrium price and quantity?

Answer Options

A. P = ₦20, Q = 50
Correct Answer B. P = ₦30, Q = 70
C. P = ₦40, Q = 90
D. P = ₦50, Q = 100
Correct Answer
B
Correct Option:
P = ₦30, Q = 70

About This Question

This is Post Utme Redeemers University 2025 Economics Question 4. It is one of the objective questions from the 2025 Post Utme Redeemers University Economics examination.

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