Post Utme Greenfield University 2018 Commerce Question 1

Practice objective / multiple choice question 1 from the 2018 Post Utme Greenfield University Commerce examination.

Post Utme Greenfield University 2018 Commerce Objective / Multiple Choice
Question 1 POST_UTME_GREENFIELD_UNIVERSITY • 2018 • 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 product in this 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 Greenfield University 2018 Commerce Question 1. It is one of the objective questions from the 2018 Post Utme Greenfield University Commerce examination.

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