Post Utme Unilag 2017 Economics Question 4

Practice objective / multiple choice question 4 from the 2017 Post Utme Unilag Economics examination.

Post Utme Unilag 2017 Economics Objective / Multiple Choice

Question 4 POST_UTME_UNILAG • 2017 • ECONOMICS • objective

Post Utme Unilag 2017 Economics Question 4 diagram

A firm's demand function is given by Q = 100 - 2P. If the firm's supply function is Q = 2P - 10, what is the equilibrium price and quantity?

Answer Options

Correct Answer A. P = 20, Q = 30

B. P = 30, Q = 20

C. P = 40, Q = 10

D. P = 50, Q = 5

Correct Answer

Correct Option:

P = 20, Q = 30

About This Question

This is Post Utme Unilag 2017 Economics Question 4. It is one of the objective questions from the 2017 Post Utme Unilag Economics examination.

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