Post Utme Veritas University 2019 Economics Question 39

Practice objective / multiple choice question 39 from the 2019 Post Utme Veritas University Economics examination.

Post Utme Veritas University 2019 Economics Objective / Multiple Choice
Question 39 POST_UTME_VERITAS_UNIVERSITY • 2019 • ECONOMICS • objective

A firm's demand function is given by \( Q = 100 - 2P \). If the firm's supply function is \( Q = 2P - 50 \), what is the equilibrium price and quantity?

Answer Options

A. \( P=25, Q=50 \)
Correct Answer B. \( P=50, Q=75 \)
C. \( P=75, Q=100 \)
D. \( P=100, Q=125 \)
Correct Answer
B
Correct Option:
\( P=50, Q=75 \)

About This Question

This is Post Utme Veritas University 2019 Economics Question 39. It is one of the objective questions from the 2019 Post Utme Veritas University Economics examination.

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