Neco 2018 Economics Question 39

Practice objective / multiple choice question 39 from the 2018 Neco Economics examination.

Neco 2018 Economics Objective / Multiple Choice Easy Difficulty
Question 39 NECO • 2018 • ECONOMICS • objective

The market demand for a product is \( Q_d = 500 - 5P \) and the market supply is \( Q_s = 2P + 20 \). Find the equilibrium price and quantity (rounded to two decimal places).

Answer Options

Correct Answer A. Price = 68.57, Quantity = 157.14
B. Price = 68.57, Quantity = 150.00
C. Price = 70.00, Quantity = 160.00
D. Price = 65.00, Quantity = 150.00
Correct Answer
A
Correct Option:
Price = 68.57, Quantity = 157.14

About This Question

This is Neco 2018 Economics Question 39. It is one of the objective questions from the 2018 Neco Economics examination.

Difficulty level: Easy .

View More Neco 2018 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