Post Utme Unilag 2020 Economics Question 20

Practice objective / multiple choice question 20 from the 2020 Post Utme Unilag Economics examination.

Post Utme Unilag 2020 Economics Objective / Multiple Choice
Question 20 POST_UTME_UNILAG • 2020 • ECONOMICS • objective

A government imposes a tax of $10 on a firm's output. If the firm's supply curve is given by Q = 100 - 2P and the demand curve is given by Q = 200 - 5P, what is the new equilibrium price and quantity?

Answer Options

A. Price: $20, Quantity: 50
B. Price: $30, Quantity: 70
C. Price: $40, Quantity: 90
Correct Answer D. Price: $50, Quantity: 110
Correct Answer
D
Correct Option:
Price: $50, Quantity: 110

About This Question

This is Post Utme Unilag 2020 Economics Question 20. It is one of the objective questions from the 2020 Post Utme Unilag Economics examination.

View More Post Utme Unilag 2020 Economics Questions More Post Utme Unilag Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support