Post Utme Rhema University 2019 Economics Question 14

Practice objective / multiple choice question 14 from the 2019 Post Utme Rhema University Economics examination.

Post Utme Rhema University 2019 Economics Objective / Multiple Choice
Question 14 POST_UTME_RHEMA_UNIVERSITY • 2019 • ECONOMICS • objective

A firm's demand curve is given by the equation Qd = 100 - 2P, and the supply curve is given by the equation Qs = 2P - 100. What is the equilibrium price and quantity?

Answer Options

A. P = ₦50, Q = 150
Correct Answer B. P = ₦75, Q = 100
C. P = ₦100, Q = 50
D. P = ₦150, Q = 25
Correct Answer
B
Correct Option:
P = ₦75, Q = 100

About This Question

This is Post Utme Rhema University 2019 Economics Question 14. It is one of the objective questions from the 2019 Post Utme Rhema University Economics examination.

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