Post Utme Wellspring University 2019 Economics Question 13

Practice objective / multiple choice question 13 from the 2019 Post Utme Wellspring University Economics examination.

Post Utme Wellspring University 2019 Economics Objective / Multiple Choice

Question 13 POST_UTME_WELLSPRING_UNIVERSITY • 2019 • ECONOMICS • objective

Consider a market with the following demand and supply functions: D(p) = 100 - 2p and S(p) = 50 + 3p. What is the equilibrium price and quantity?

Answer Options

A. p = 20, Q = 60

Correct Answer B. p = 30, Q = 80

C. p = 40, Q = 100

D. p = 50, Q = 120

Correct Answer

Correct Option:

p = 30, Q = 80

About This Question

This is Post Utme Wellspring University 2019 Economics Question 13. It is one of the objective questions from the 2019 Post Utme Wellspring University Economics examination.

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