Post Utme Veritas University 2020 Economics Question 16

Practice objective / multiple choice question 16 from the 2020 Post Utme Veritas University Economics examination.

Post Utme Veritas University 2020 Economics Objective / Multiple Choice
Question 16 POST_UTME_VERITAS_UNIVERSITY • 2020 • ECONOMICS • objective

Suppose the demand for a product is given by the equation Qd = 100 - 2P and the supply is given by Qs = 2P - 10. Find the equilibrium price and quantity. Assume that the market is in equilibrium.

Answer Options

Correct Answer A. ₦50, 50 units
B. ₦75, 25 units
C. ₦100, 0 units
D. ₦200, 100 units
Correct Answer
A
Correct Option:
₦50, 50 units

About This Question

This is Post Utme Veritas University 2020 Economics Question 16. It is one of the objective questions from the 2020 Post Utme Veritas University Economics examination.

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