Neco 2019 Economics Question 9

Practice objective / multiple choice question 9 from the 2019 Neco Economics examination.

Neco 2019 Economics Objective / Multiple Choice Easy Difficulty
Question 9 NECO • 2019 • ECONOMICS • objective

The market demand for a good is given by \(P = 200 - 2Q\) and the market supply by \(P = 20 + Q\), where \(P\) is price in naira and \(Q\) is quantity. Find the equilibrium price and quantity.

Answer Options

A. Price = 60, Quantity = 80
B. Price = 120, Quantity = 40
C. Price = 70, Quantity = 65
Correct Answer D. Price = 80, Quantity = 60
Correct Answer
D
Correct Option:
Price = 80, Quantity = 60

About This Question

This is Neco 2019 Economics Question 9. It is one of the objective questions from the 2019 Neco Economics examination.

Difficulty level: Easy .

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