Post Utme Elizade University 2025 Economics Question 39

Practice objective / multiple choice question 39 from the 2025 Post Utme Elizade University Economics examination.

Post Utme Elizade University 2025 Economics Objective / Multiple Choice
Question 39 POST_UTME_ELIZADE_UNIVERSITY • 2025 • ECONOMICS • objective

Consider a market with a downward-sloping demand curve and a perfectly inelastic supply curve. If the market price is P = 100, what is the likely outcome for the market equilibrium?

Answer Options

A. The market will be in equilibrium at a quantity of 10 units
B. The market will be in equilibrium at a quantity of 20 units
C. The market will be in equilibrium at a quantity of 50 units
Correct Answer D. The market will be in equilibrium at a quantity of 100 units
Correct Answer
D
Correct Option:
The market will be in equilibrium at a quantity of 100 units

About This Question

This is Post Utme Elizade University 2025 Economics Question 39. It is one of the objective questions from the 2025 Post Utme Elizade University Economics examination.

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