Post Utme Skyline University 2021 Economics Question 2

Practice objective / multiple choice question 2 from the 2021 Post Utme Skyline University Economics examination.

Post Utme Skyline University 2021 Economics Objective / Multiple Choice

Question 2 POST_UTME_SKYLINE_UNIVERSITY • 2021 • ECONOMICS • objective

The demand function for a product is given by \( Q_d = 100 - 2P \). If the supply function is \( Q_s = 2P - 20 \), find the equilibrium price and quantity.

Answer Options

Correct Answer A. P = 30, Q = 40

B. P = 40, Q = 30

C. P = 50, Q = 20

D. P = 20, Q = 50

Correct Answer

Correct Option:

P = 30, Q = 40

About This Question

This is Post Utme Skyline University 2021 Economics Question 2. It is one of the objective questions from the 2021 Post Utme Skyline University Economics examination.

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