Post Utme Veritas University 2020 Economics Question 33

Practice objective / multiple choice question 33 from the 2020 Post Utme Veritas University Economics examination.

Post Utme Veritas University 2020 Economics Objective / Multiple Choice
Question 33 POST_UTME_VERITAS_UNIVERSITY • 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 - 100, what is the equilibrium price?

Answer Options

A. 20
Correct Answer B. 30
C. 40
D. 50
Correct Answer
B
Correct Option:
30

About This Question

This is Post Utme Veritas University 2020 Economics Question 33. It is one of the objective questions from the 2020 Post Utme Veritas University Economics examination.

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