Post Utme Afe Babalola University 2022 Commerce Question 16

Practice objective / multiple choice question 16 from the 2022 Post Utme Afe Babalola University Commerce examination.

Post Utme Afe Babalola University 2022 Commerce Objective / Multiple Choice
Question 16 POST_UTME_AFE_BABALOLA_UNIVERSITY • 2022 • COMMERCE • objective

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

Answer Options

A. ₦100, 100 units
Correct Answer B. ₦120, 80 units
C. ₦150, 60 units
D. ₦180, 40 units
Correct Answer
B
Correct Option:
₦120, 80 units

About This Question

This is Post Utme Afe Babalola University 2022 Commerce Question 16. It is one of the objective questions from the 2022 Post Utme Afe Babalola University Commerce examination.

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