Post Utme Delsu 2018 Economics Question 17

Practice objective / multiple choice question 17 from the 2018 Post Utme Delsu Economics examination.

Post Utme Delsu 2018 Economics Objective / Multiple Choice
Question 17 POST_UTME_DELSU • 2018 • ECONOMICS • objective

A perfectly competitive market has many firms producing a homogeneous product. What is the equilibrium price and quantity in this market?

Answer Options

A. The equilibrium price is $10 and the equilibrium quantity is 100 units.
B. The equilibrium price is $20 and the equilibrium quantity is 50 units.
Correct Answer C. The equilibrium price is $15 and the equilibrium quantity is 75 units.
D. The equilibrium price is $25 and the equilibrium quantity is 25 units.
Correct Answer
C
Correct Option:
The equilibrium price is $15 and the equilibrium quantity is 75 units.

About This Question

This is Post Utme Delsu 2018 Economics Question 17. It is one of the objective questions from the 2018 Post Utme Delsu Economics examination.

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