Post Utme Ims U 2022 Geography Question 21

Practice objective / multiple choice question 21 from the 2022 Post Utme Ims U Geography examination.

Post Utme Ims U 2022 Geography Objective / Multiple Choice
Question 21 POST_UTME_IMS_U • 2022 • GEOGRAPHY • objective

In a perfectly competitive market, the supply curve is upward-sloping and the demand curve is downward-sloping. What is the equilibrium price and quantity of a commodity in such a market?

Answer Options

A. (P = 10, Q = 100)
Correct Answer B. (P = 20, Q = 50)
C. (P = 30, Q = 200)
D. (P = 40, Q = 150)
Correct Answer
B
Correct Option:
(P = 20, Q = 50)

About This Question

This is Post Utme Ims U 2022 Geography Question 21. It is one of the objective questions from the 2022 Post Utme Ims U Geography examination.

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