Neco Model Questions Vol1 2018 Economics Question 1
Practice objective / multiple choice question 1 from the 2018 Neco Model Questions Vol1 Economics examination.
The demand function for a product is \(Q_d = 500 - 5P\) and the supply function is \(Q_s = 2P - 20\). The government imposes a specific tax of ₦10 per unit on sellers. Find the equilibrium price paid by consumers, correct to two decimal places.
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About This Question
This is Neco Model Questions Vol1 2018 Economics Question 1. It is one of the objective questions from the 2018 Neco Model Questions Vol1 Economics examination.
Difficulty level: Easy .
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