Post Utme Rhema University 2023 Economics Question 28

Practice objective / multiple choice question 28 from the 2023 Post Utme Rhema University Economics examination.

Post Utme Rhema University 2023 Economics Objective / Multiple Choice

Question 28 POST_UTME_RHEMA_UNIVERSITY • 2023 • ECONOMICS • objective

A firm is operating in a perfectly competitive market with a demand curve given by Qd = 100 - 2P and a supply curve given by Qs = 2P. What is the firm's equilibrium price and quantity?

Answer Options

A. P = ₦20, Q = 40

Correct Answer B. P = ₦30, Q = 60

C. P = ₦40, Q = 80

D. P = ₦50, Q = 100

Correct Answer

Correct Option:

P = ₦30, Q = 60

About This Question

This is Post Utme Rhema University 2023 Economics Question 28. It is one of the objective questions from the 2023 Post Utme Rhema University Economics examination.

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