Post Utme Bells University 2020 Economics Question 36

Practice objective / multiple choice question 36 from the 2020 Post Utme Bells University Economics examination.

Post Utme Bells University 2020 Economics Objective / Multiple Choice
Question 36 POST_UTME_BELLS_UNIVERSITY • 2020 • ECONOMICS • objective

In a perfectly competitive market, the demand curve for a firm's product is horizontal and the supply curve is upward-sloping. What is the equilibrium price and quantity of the product?

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 Bells University 2020 Economics Question 36. It is one of the objective questions from the 2020 Post Utme Bells University Economics examination.

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