Post Utme Babcock University 2021 Commerce Question 6

Practice objective / multiple choice question 6 from the 2021 Post Utme Babcock University Commerce examination.

Post Utme Babcock University 2021 Commerce Objective / Multiple Choice
Question 6 POST_UTME_BABCOCK_UNIVERSITY • 2021 • 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 a commodity in such a market?

Answer Options

Correct Answer A. ₦100, 100 units
B. ₦120, 80 units
C. ₦150, 60 units
D. ₦200, 40 units
Correct Answer
A
Correct Option:
₦100, 100 units

About This Question

This is Post Utme Babcock University 2021 Commerce Question 6. It is one of the objective questions from the 2021 Post Utme Babcock University Commerce examination.

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