Post Utme Igbinedion University 2018 Economics Question 7

Practice objective / multiple choice question 7 from the 2018 Post Utme Igbinedion University Economics examination.

Post Utme Igbinedion University 2018 Economics Objective / Multiple Choice

Question 7 POST_UTME_IGBINEDION_UNIVERSITY • 2018 • ECONOMICS • objective

A perfectly competitive market has a downward-sloping demand curve and a horizontal supply curve. What is the equilibrium price and quantity in this market?

Answer Options

Correct Answer A. Price = $10, Quantity = 100

B. Price = $5, Quantity = 50

C. Price = $20, Quantity = 200

D. Price = $15, Quantity = 150

Correct Answer

Correct Option:

Price = $10, Quantity = 100

About This Question

This is Post Utme Igbinedion University 2018 Economics Question 7. It is one of the objective questions from the 2018 Post Utme Igbinedion University Economics examination.

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