Post Utme Elizade University 2025 Economics Question 25

Practice objective / multiple choice question 25 from the 2025 Post Utme Elizade University Economics examination.

Post Utme Elizade University 2025 Economics Objective / Multiple Choice
Question 25 POST_UTME_ELIZADE_UNIVERSITY • 2025 • ECONOMICS • objective

The concept of demand and supply is a fundamental concept in economics. What is the equilibrium price and quantity in a market where the demand curve is downward sloping and the supply curve is upward sloping?

Answer Options

Correct Answer A. The equilibrium price is the price at which the quantity demanded equals the quantity supplied.
B. The equilibrium quantity is the quantity at which the demand curve intersects the supply curve.
C. The equilibrium price is the price at which the demand curve intersects the supply curve.
D. The equilibrium quantity is the quantity at which the demand curve equals the supply curve.
Correct Answer
A
Correct Option:
The equilibrium price is the price at which the quantity demanded equals the quantity supplied.

About This Question

This is Post Utme Elizade University 2025 Economics Question 25. It is one of the objective questions from the 2025 Post Utme Elizade University Economics examination.

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