Post Utme Christopher University 2017 Commerce Question 16

Practice objective / multiple choice question 16 from the 2017 Post Utme Christopher University Commerce examination.

Post Utme Christopher University 2017 Commerce Objective / Multiple Choice
Question 16 POST_UTME_CHRISTOPHER_UNIVERSITY • 2017 • 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 such a market?

Answer Options

A. ₦1500 and 100 units
Correct Answer B. ₦1200 and 150 units
C. ₦1800 and 80 units
D. ₦2000 and 60 units
Correct Answer
B
Correct Option:
₦1200 and 150 units

About This Question

This is Post Utme Christopher University 2017 Commerce Question 16. It is one of the objective questions from the 2017 Post Utme Christopher University Commerce examination.

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