Post Utme Veritas University 2022 Economics Question 9

Practice objective / multiple choice question 9 from the 2022 Post Utme Veritas University Economics examination.

Post Utme Veritas University 2022 Economics Objective / Multiple Choice
Question 9 POST_UTME_VERITAS_UNIVERSITY • 2022 • ECONOMICS • objective

Consider a market with a demand curve given by \( Q = 100 - 2P \) and a supply curve given by \( Q = 20 + 2P \). What is the equilibrium price and quantity in this market?

Answer Options

A. \( P = 10, Q = 60 \)
B. \( P = 15, Q = 50 \)
Correct Answer C. \( P = 20, Q = 40 \)
D. \( P = 25, Q = 30 \)
Correct Answer
C
Correct Option:
\( P = 20, Q = 40 \)

About This Question

This is Post Utme Veritas University 2022 Economics Question 9. It is one of the objective questions from the 2022 Post Utme Veritas University Economics examination.

View More Post Utme Veritas University 2022 Economics Questions More Post Utme Veritas University 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