Post Utme Igbinedion University 2023 Commerce Question 36

Practice objective / multiple choice question 36 from the 2023 Post Utme Igbinedion University Commerce examination.

Post Utme Igbinedion University 2023 Commerce Objective / Multiple Choice
Question 36 POST_UTME_IGBINEDION_UNIVERSITY • 2023 • 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 commodity in this market?

Answer Options

Correct Answer A. ₦1000, 100 units
B. ₦500, 50 units
C. ₦2000, 200 units
D. ₦1500, 150 units
Correct Answer
A
Correct Option:
₦1000, 100 units

About This Question

This is Post Utme Igbinedion University 2023 Commerce Question 36. It is one of the objective questions from the 2023 Post Utme Igbinedion University Commerce examination.

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