Post Utme Uniport 2024 Economics Question 24

Practice objective / multiple choice question 24 from the 2024 Post Utme Uniport Economics examination.

Post Utme Uniport 2024 Economics Objective / Multiple Choice

Question 24 POST_UTME_UNIPORT • 2024 • ECONOMICS • objective

A perfectly competitive market has a demand curve given by Q = 100 - 2P and a supply curve given by Q = 2P. Find the equilibrium price and quantity.

Answer Options

Correct Answer A. P = 25, Q = 50

B. P = 50, Q = 25

C. P = 75, Q = 100

D. P = 100, Q = 0

Correct Answer

Correct Option:

P = 25, Q = 50

About This Question

This is Post Utme Uniport 2024 Economics Question 24. It is one of the objective questions from the 2024 Post Utme Uniport Economics examination.

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