Gce Model Questions Vol1 2024 Economics Question 30

Practice objective / multiple choice question 30 from the 2024 Gce Model Questions Vol1 Economics examination.

Gce Model Questions Vol1 2024 Economics Objective / Multiple Choice Easy Difficulty

Question 30 GCE_MODEL_QUESTIONS_VOL1 • 2024 • ECONOMICS • objective

The market for good X is described by the demand equation \(P = 100 - 4Q\) and the supply equation \(P = 20 + 2Q\). Find the equilibrium price and quantity.

Answer Options

A. Q = 15.00 units, P = 40.00

B. Q = 10.00 units, P = 60.00

Correct Answer C. Q = 13.33 units, P = 46.67

D. Q = 12.00 units, P = 52.00

Correct Answer

Correct Option:

Q = 13.33 units, P = 46.67

About This Question

This is Gce Model Questions Vol1 2024 Economics Question 30. It is one of the objective questions from the 2024 Gce Model Questions Vol1 Economics examination.

Difficulty level: Easy .

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