Post Utme Uniosun 2020 Economics Question 37

Practice objective / multiple choice question 37 from the 2020 Post Utme Uniosun Economics examination.

Post Utme Uniosun 2020 Economics Objective / Multiple Choice

Question 37 POST_UTME_UNIOSUN • 2020 • ECONOMICS • objective

A firm's demand curve is given by the equation Qd = 100 - 2P. The firm's supply curve is given by the equation Qs = 2P. What is the firm's equilibrium price and quantity?

Answer Options

Correct Answer A. P = 20, Q = 40

B. P = 30, Q = 30

C. P = 40, Q = 20

D. P = 50, Q = 10

Correct Answer

Correct Option:

P = 20, Q = 40

About This Question

This is Post Utme Uniosun 2020 Economics Question 37. It is one of the objective questions from the 2020 Post Utme Uniosun Economics examination.

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