Post Utme Unn 2020 Economics Question 13

Practice objective / multiple choice question 13 from the 2020 Post Utme Unn Economics examination.

Post Utme Unn 2020 Economics Objective / Multiple Choice

Question 13 POST_UTME_UNN • 2020 • ECONOMICS • objective

A firm's demand curve is given by the equation Qd = 100 - 2P, where Qd is the quantity demanded and P is the price. If the firm's supply curve is given by the equation Qs = 2P - 50, where Qs is the quantity supplied, what is the equilibrium price (P) and quantity (Q) in the market?

A. P = 25, Q = 50

Correct Answer B. P = 30, Q = 60

C. P = 35, Q = 70

D. P = 40, Q = 80

Correct Answer

Correct Option:

P = 30, Q = 60

This is Post Utme Unn 2020 Economics Question 13. It is one of the objective questions from the 2020 Post Utme Unn Economics examination.

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