Post Utme Unn 2021 Economics Question 3

Practice objective / multiple choice question 3 from the 2021 Post Utme Unn Economics examination.

Post Utme Unn 2021 Economics Objective / Multiple Choice

Question 3 POST_UTME_UNN • 2021 • 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 - 10, where Qs is the quantity supplied and P is the price, what is the equilibrium price and quantity?

Correct Answer A. P = 20, Q = 30

B. P = 30, Q = 20

C. P = 40, Q = 10

D. P = 50, Q = 5

Correct Answer

Correct Option:

P = 20, Q = 30

This is Post Utme Unn 2021 Economics Question 3. It is one of the objective questions from the 2021 Post Utme Unn Economics examination.

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