Post Utme Achievers University 2017 Economics Question 1

Practice objective / multiple choice question 1 from the 2017 Post Utme Achievers University Economics examination.

Post Utme Achievers University 2017 Economics Objective / Multiple Choice
Question 1 POST_UTME_ACHIEVERS_UNIVERSITY • 2017 • ECONOMICS • objective

In a perfectly competitive market, the supply curve is upward-sloping and the demand curve is downward-sloping. What is the equilibrium price and quantity of a product in this market?

Answer Options

A. \( P = 10, Q = 100 \)
B. \( P = 20, Q = 50 \)
Correct Answer C. \( P = 15, Q = 75 \)
D. \( P = 25, Q = 25 \)
Correct Answer
C
Correct Option:
\( P = 15, Q = 75 \)

About This Question

This is Post Utme Achievers University 2017 Economics Question 1. It is one of the objective questions from the 2017 Post Utme Achievers University Economics examination.

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