Post Utme Bowen University 2020 Commerce Question 16

Practice objective / multiple choice question 16 from the 2020 Post Utme Bowen University Commerce examination.

Post Utme Bowen University 2020 Commerce Objective / Multiple Choice
Question 16 POST_UTME_BOWEN_UNIVERSITY • 2020 • 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 product in this market?

Answer Options

A. ₦100, 100 units
Correct Answer B. ₦80, 150 units
C. ₦120, 80 units
D. ₦90, 110 units
Correct Answer
B
Correct Option:
₦80, 150 units

About This Question

This is Post Utme Bowen University 2020 Commerce Question 16. It is one of the objective questions from the 2020 Post Utme Bowen University Commerce examination.

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