Post Utme Caleb University 2023 Commerce Question 1

Practice objective / multiple choice question 1 from the 2023 Post Utme Caleb University Commerce examination.

Post Utme Caleb University 2023 Commerce Objective / Multiple Choice
Question 1 POST_UTME_CALEB_UNIVERSITY • 2023 • COMMERCE • 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 commodity in such a market?

Answer Options

A. ₦500, 100 units
Correct Answer B. ₦300, 200 units
C. ₦200, 300 units
D. ₦400, 150 units
Correct Answer
B
Correct Option:
₦300, 200 units

About This Question

This is Post Utme Caleb University 2023 Commerce Question 1. It is one of the objective questions from the 2023 Post Utme Caleb University Commerce examination.

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