Post Utme Summit University 2020 Economics Question 1

Practice objective / multiple choice question 1 from the 2020 Post Utme Summit University Economics examination.

Post Utme Summit University 2020 Economics Objective / Multiple Choice
Question 1 POST_UTME_SUMMIT_UNIVERSITY • 2020 • ECONOMICS • objective

Suppose the demand for a product is given by the equation Qd = 100 - 2P and the supply is given by Qs = 2P - 10. Find the equilibrium price and quantity.

Answer Options

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

About This Question

This is Post Utme Summit University 2020 Economics Question 1. It is one of the objective questions from the 2020 Post Utme Summit University Economics examination.

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