Post Utme Uniosun 2017 Economics Question 28

Practice objective / multiple choice question 28 from the 2017 Post Utme Uniosun Economics examination.

Post Utme Uniosun 2017 Economics Objective / Multiple Choice
Question 28 POST_UTME_UNIOSUN • 2017 • ECONOMICS • objective

The following diagram shows the supply and demand curves for a product. If the price elasticity of supply is 2 and the price elasticity of demand is -3, what is the equilibrium price and quantity?

Answer Options

Correct Answer A. ₦100, 100 units
B. ₦120, 80 units
C. ₦150, 60 units
D. ₦180, 40 units
Correct Answer
A
Correct Option:
₦100, 100 units

About This Question

This is Post Utme Uniosun 2017 Economics Question 28. It is one of the objective questions from the 2017 Post Utme Uniosun Economics examination.

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