Neco 2017 Economics Question 46

Practice objective / multiple choice question 46 from the 2017 Neco Economics examination.

Neco 2017 Economics Objective / Multiple Choice Easy Difficulty
Question 46 NECO • 2017 • ECONOMICS • objective

The market for a commodity is described by the demand equation \( P = 100 - 2Q \) and the supply equation \( P = 20 + Q \), where \(P\) is the price in Naira and \(Q\) is the quantity demanded/supplied. Determine the equilibrium quantity.

Answer Options

A. \\frac{80}{2}
B. \\frac{70}{3}
Correct Answer C. \frac{80}{3}
D. \\frac{90}{3}
Correct Answer
C
Correct Option:
\frac{80}{3}

About This Question

This is Neco 2017 Economics Question 46. It is one of the objective questions from the 2017 Neco Economics examination.

Difficulty level: Easy .

View More Neco 2017 Economics Questions More Neco 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