Post Utme Summit University 2021 Economics Question 7

Practice objective / multiple choice question 7 from the 2021 Post Utme Summit University Economics examination.

Post Utme Summit University 2021 Economics Objective / Multiple Choice

Question 7 POST_UTME_SUMMIT_UNIVERSITY • 2021 • ECONOMICS • objective

The demand for a commodity is given by Qd = 100 - 2P and the supply is given by Qs = 2P. What is the equilibrium price and quantity?

Answer Options

Correct Answer A. P = 20, Q = 60

B. P = 30, Q = 50

C. P = 40, Q = 40

D. P = 50, Q = 30

Correct Answer

Correct Option:

P = 20, Q = 60

About This Question

This is Post Utme Summit University 2021 Economics Question 7. It is one of the objective questions from the 2021 Post Utme Summit University Economics examination.

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