Neco 2021 Economics Question 8

Practice objective / multiple choice question 8 from the 2021 Neco Economics examination.

Neco 2021 Economics Objective / Multiple Choice Easy Difficulty
Question 8 NECO • 2021 • ECONOMICS • objective

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

Answer Options

Correct Answer A. 60 units, price 80
B. 70 units, price 70
C. 40 units, price 100
D. 50 units, price 90
Correct Answer
A
Correct Option:
60 units, price 80

About This Question

This is Neco 2021 Economics Question 8. It is one of the objective questions from the 2021 Neco Economics examination.

Difficulty level: Easy .

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