Post Utme Skyline University 2020 Economics Question 29

Practice objective / multiple choice question 29 from the 2020 Post Utme Skyline University Economics examination.

Post Utme Skyline University 2020 Economics Objective / Multiple Choice
Question 29 POST_UTME_SKYLINE_UNIVERSITY • 2020 • ECONOMICS • objective

A government is considering a policy to reduce pollution. The policy will increase the \cost of production for firms in the industry by 10%. If the demand for the industry's product is given by D(p) = 100 - 2p and the supply function is S(p) = 20 + p, find the new equilibrium price and quantity.

Answer Options

A. p = 40, Q = 60
B. p = 50, Q = 70
Correct Answer C. p = 60, Q = 80
D. p = 70, Q = 90
Correct Answer
C
Correct Option:
p = 60, Q = 80

About This Question

This is Post Utme Skyline University 2020 Economics Question 29. It is one of the objective questions from the 2020 Post Utme Skyline University Economics examination.

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