Post Utme Skyline University 2017 Economics Question 23

Practice objective / multiple choice question 23 from the 2017 Post Utme Skyline University Economics examination.

Post Utme Skyline University 2017 Economics Objective / Multiple Choice
Question 23 POST_UTME_SKYLINE_UNIVERSITY • 2017 • ECONOMICS • objective

A perfectly competitive market has a demand curve given by \( P = 100 - 2Q \) and a supply curve given by \( P = 20 + 3Q \). Find the equilibrium price and quantity.

Answer Options

Correct Answer A. P = 40, Q = 20
B. P = 30, Q = 15
C. P = 50, Q = 25
D. P = 60, Q = 30
Correct Answer
A
Correct Option:
P = 40, Q = 20

About This Question

This is Post Utme Skyline University 2017 Economics Question 23. It is one of the objective questions from the 2017 Post Utme Skyline University Economics examination.

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