Post Utme Uniport 2017 Economics Question 29

Practice objective / multiple choice question 29 from the 2017 Post Utme Uniport Economics examination.

Post Utme Uniport 2017 Economics Objective / Multiple Choice

Question 29 POST_UTME_UNIPORT • 2017 • ECONOMICS • objective

A firm's demand curve is given by the equation: Qd = 100 - 2P. If the firm's supply curve is given by the equation: Qs = 2P - 50, what is the equilibrium price and quantity?

Answer Options

Correct Answer A. P = 25, Q = 50

B. P = 30, Q = 60

C. P = 35, Q = 70

D. P = 40, Q = 80

Correct Answer

Correct Option:

P = 25, Q = 50

About This Question

This is Post Utme Uniport 2017 Economics Question 29. It is one of the objective questions from the 2017 Post Utme Uniport Economics examination.

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