Post Utme Uniport 2023 Economics Question 13

Practice objective / multiple choice question 13 from the 2023 Post Utme Uniport Economics examination.

Post Utme Uniport 2023 Economics Objective / Multiple Choice
Question 13 POST_UTME_UNIPORT • 2023 • ECONOMICS • objective

The demand for a good is given by the equation: Qd = 100 - 2P. The supply of the good is given by the equation: Qs = 2P - 10. What is the equilibrium price and quantity of the good?

Answer Options

Correct Answer A. Price: 20, Quantity: 40
B. Price: 30, Quantity: 50
C. Price: 40, Quantity: 60
D. Price: 50, Quantity: 70
Correct Answer
A
Correct Option:
Price: 20, Quantity: 40

About This Question

This is Post Utme Uniport 2023 Economics Question 13. It is one of the objective questions from the 2023 Post Utme Uniport Economics examination.

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support