Post Utme Uniben 2019 Economics Question 10

Practice objective / multiple choice question 10 from the 2019 Post Utme Uniben Economics examination.

Post Utme Uniben 2019 Economics Objective / Multiple Choice

Question 10 POST_UTME_UNIBEN • 2019 • ECONOMICS • objective

A perfectly competitive market has a demand curve given by P = 100 - Q. If the market supply curve is given by Q = 20 + 2P, what is the equilibrium price and quantity?

Answer Options

Correct Answer A. P = 50, Q = 30

B. P = 60, Q = 40

C. P = 70, Q = 50

D. P = 80, Q = 60

Correct Answer

Correct Option:

P = 50, Q = 30

About This Question

This is Post Utme Uniben 2019 Economics Question 10. It is one of the objective questions from the 2019 Post Utme Uniben Economics examination.

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