Gce Model Questions Vol1 2020 Economics Question 50
Practice objective / multiple choice question 50 from the 2020 Gce Model Questions Vol1 Economics examination.
The market for a good is described by the linear demand equation \(Q_d = 120 - 2P\) and the linear supply equation \(Q_s = 20 + 3P\), where \(P\) is the price (in £) and \(Q\) is quantity. Determine the equilibrium price and quantity.
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About This Question
This is Gce Model Questions Vol1 2020 Economics Question 50. It is one of the objective questions from the 2020 Gce Model Questions Vol1 Economics examination.
Difficulty level: Easy .
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