Post Utme Skyline University 2020 Economics Question 36

Practice objective / multiple choice question 36 from the 2020 Post Utme Skyline University Economics examination.

Post Utme Skyline University 2020 Economics Objective / Multiple Choice
Question 36 POST_UTME_SKYLINE_UNIVERSITY • 2020 • ECONOMICS • objective

Suppose the demand function for a commodity is given by Q = 100 - 2P and the supply function is given by Q = 2P + 10. Find the equilibrium price and quantity.

Answer Options

Correct Answer A. ₦50, 60
B. ₦40, 70
C. ₦30, 80
D. ₦20, 90
Correct Answer
A
Correct Option:
₦50, 60

About This Question

This is Post Utme Skyline University 2020 Economics Question 36. It is one of the objective questions from the 2020 Post Utme Skyline University Economics examination.

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support