Post Utme Unn 2021 Economics Question 27

Practice objective / multiple choice question 27 from the 2021 Post Utme Unn Economics examination.

Post Utme Unn 2021 Economics Objective / Multiple Choice
Question 27 POST_UTME_UNN • 2021 • ECONOMICS • objective

The demand for a product is given by the equation Qd = 100 - 2P, where Qd is the quantity demanded and P is the price. If the supply of the product is given by the equation Qs = 2P - 100, what is the equilibrium price and quantity?

Answer Options

Correct Answer A. P = 50, Q = 50
B. P = 75, Q = 25
C. P = 100, Q = 0
D. P = 25, Q = 75
Correct Answer
A
Correct Option:
P = 50, Q = 50

About This Question

This is Post Utme Unn 2021 Economics Question 27. It is one of the objective questions from the 2021 Post Utme Unn Economics examination.

View More Post Utme Unn 2021 Economics Questions More Post Utme Unn Practice Questions Back to Questions

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