Post Utme Rsu 2019 Economics Question 28

Practice objective / multiple choice question 28 from the 2019 Post Utme Rsu Economics examination.

Post Utme Rsu 2019 Economics Objective / Multiple Choice

Question 28 POST_UTME_RSU • 2019 • ECONOMICS • objective

A firm's demand curve is given by the equation Qd = 100 - 2P, where Qd is the quantity demanded and P is the price. If the firm's supply curve is given by the equation Qs = 2P - 20, where Qs is the quantity supplied, what is the equilibrium price and quantity?

Correct Answer A. P = 20, Q = 40

B. P = 30, Q = 50

C. P = 40, Q = 60

D. P = 50, Q = 70

Correct Answer

Correct Option:

P = 20, Q = 40

This is Post Utme Rsu 2019 Economics Question 28. It is one of the objective questions from the 2019 Post Utme Rsu Economics examination.

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