Post Utme Rhema University 2023 Economics Question 11

Practice objective / multiple choice question 11 from the 2023 Post Utme Rhema University Economics examination.

Post Utme Rhema University 2023 Economics Objective / Multiple Choice
Question 11 POST_UTME_RHEMA_UNIVERSITY • 2023 • ECONOMICS • objective

Determine the equilibrium price and quantity of a commodity in a perfectly competitive market, given the following demand and supply functions: Qd = 100 - 2P, Qs = 20 + 3P.

Answer Options

A. ₦50, 80 units
B. ₦75, 40 units
C. ₦30, 120 units
Correct Answer D. ₦60, 60 units
Correct Answer
D
Correct Option:
₦60, 60 units

About This Question

This is Post Utme Rhema University 2023 Economics Question 11. It is one of the objective questions from the 2023 Post Utme Rhema University Economics examination.

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