Post Utme Esut 2019 Commerce Question 21

Practice objective / multiple choice question 21 from the 2019 Post Utme Esut Commerce examination.

Post Utme Esut 2019 Commerce Objective / Multiple Choice
Question 21 POST_UTME_ESUT • 2019 • 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 the product?

Answer Options

A. ₦100, 100 units
Correct Answer B. ₦120, 80 units
C. ₦150, 60 units
D. ₦180, 40 units
Correct Answer
B
Correct Option:
₦120, 80 units

About This Question

This is Post Utme Esut 2019 Commerce Question 21. It is one of the objective questions from the 2019 Post Utme Esut Commerce examination.

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