Post Utme Unilorin 2021 Economics Question 33

Practice objective / multiple choice question 33 from the 2021 Post Utme Unilorin Economics examination.

Post Utme Unilorin 2021 Economics Objective / Multiple Choice
Question 33 POST_UTME_UNILORIN • 2021 • ECONOMICS • objective

The demand function for a product is given by Q = 100 - 2P, where Q is the quantity demanded and P is the price. The supply function is given by Q = 2P - 10. Find 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 = 10, Q = 40
Correct Answer
A
Correct Option:
P = 20, Q = 30

About This Question

This is Post Utme Unilorin 2021 Economics Question 33. It is one of the objective questions from the 2021 Post Utme Unilorin Economics examination.

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