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Given a market demand curve Q=120-2p and a supply curve Q = 4p, the equilibrium...

Economics
JAMB 1997
Given a market demand curve Q=120-2p and a supply curve Q = 4p, the equilibrium price and quantity respectively are?
  • A. 20 and 80
  • B. 30 and 120
  • C. 40 and 60
  • D. 60 and 240
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Correct Answer: Option A
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now