Post Utme Covenant University 2017 Commerce Question 35

Practice objective / multiple choice question 35 from the 2017 Post Utme Covenant University Commerce examination.

Post Utme Covenant University 2017 Commerce Objective / Multiple Choice
Question 35 POST_UTME_COVENANT_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 in such a market?

Answer Options

A. ₦1000, 100 units
Correct Answer B. ₦1200, 80 units
C. ₦1500, 60 units
D. ₦1800, 40 units
Correct Answer
B
Correct Option:
₦1200, 80 units

About This Question

This is Post Utme Covenant University 2017 Commerce Question 35. It is one of the objective questions from the 2017 Post Utme Covenant University Commerce examination.

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