Post Utme Crawford University 2021 Commerce Question 21

Practice objective / multiple choice question 21 from the 2021 Post Utme Crawford University Commerce examination.

Post Utme Crawford University 2021 Commerce Objective / Multiple Choice
Question 21 POST_UTME_CRAWFORD_UNIVERSITY • 2021 • 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 commodity in such a market?

Answer Options

Correct Answer A. ₦1000 and 100 units
B. ₦500 and 200 units
C. ₦2000 and 50 units
D. ₦1500 and 75 units
Correct Answer
A
Correct Option:
₦1000 and 100 units

About This Question

This is Post Utme Crawford University 2021 Commerce Question 21. It is one of the objective questions from the 2021 Post Utme Crawford University Commerce examination.

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