Post Utme Unn 2018 Economics Question 1

Practice objective / multiple choice question 1 from the 2018 Post Utme Unn Economics examination.

Post Utme Unn 2018 Economics Objective / Multiple Choice

Question 1 POST_UTME_UNN • 2018 • ECONOMICS • objective

Determine the equilibrium price and quantity of a perfectly competitive market when the demand function is given by Qd = 100 - 2P and the supply function is given by Qs = 2P - 10.

A. \( P = 20, Q = 60 \)

Correct Answer B. \( P = 30, Q = 50 \)

C. \( P = 40, Q = 70 \)

D. \( P = 50, Q = 90 \)

Correct Answer

Correct Option:

\( P = 30, Q = 50 \)

This is Post Utme Unn 2018 Economics Question 1. It is one of the objective questions from the 2018 Post Utme Unn Economics examination.

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