Post Utme Wellspring University 2017 Economics Question 25

Practice objective / multiple choice question 25 from the 2017 Post Utme Wellspring University Economics examination.

Post Utme Wellspring University 2017 Economics Objective / Multiple Choice
Question 25 POST_UTME_WELLSPRING_UNIVERSITY • 2017 • ECONOMICS • objective

Consider a market with a demand function \( Q = 100 - 2P \) and a supply function \( Q = 2P - 10 \). If the market is in equilibrium, what is the price and quantity?

Answer Options

Correct Answer A. P = ₦20, Q = 30
B. P = ₦30, Q = 40
C. P = ₦40, Q = 50
D. P = ₦50, Q = 60
Correct Answer
A
Correct Option:
P = ₦20, Q = 30

About This Question

This is Post Utme Wellspring University 2017 Economics Question 25. It is one of the objective questions from the 2017 Post Utme Wellspring University Economics examination.

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