Post Utme Uniport 2017 Economics Question 4

Practice objective / multiple choice question 4 from the 2017 Post Utme Uniport Economics examination.

Post Utme Uniport 2017 Economics Objective / Multiple Choice

Question 4 POST_UTME_UNIPORT • 2017 • ECONOMICS • objective

A firm faces a demand curve Q = 100 - 2P and a supply curve Q = 2P. What is the equilibrium price and quantity?

Answer Options

A. $ P = $20, Q = 60 $

B. $ P = $30, Q = 80 $

Correct Answer C. $ P = $40, Q = 100 $

D. $ P = $50, Q = 120 $

Correct Answer

Correct Option:

$ P = $40, Q = 100 $

About This Question

This is Post Utme Uniport 2017 Economics Question 4. It is one of the objective questions from the 2017 Post Utme Uniport Economics examination.

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