Post Utme Ksu 2023 Economics Question 23

Practice objective / multiple choice question 23 from the 2023 Post Utme Ksu Economics examination.

Post Utme Ksu 2023 Economics Objective / Multiple Choice
Question 23 POST_UTME_KSU • 2023 • ECONOMICS • objective

Consider a perfectly competitive market with multiple firms producing a homogeneous product. If the market price is $P = 10, and the inverse demand function is given by \( P = 100 - Q \), where ( Q ) is the total quantity demanded, what is the equilibrium quantity?

Answer Options

A. 50
Correct Answer B. 100
C. 200
D. 500
Correct Answer
B
Correct Option:
100

About This Question

This is Post Utme Ksu 2023 Economics Question 23. It is one of the objective questions from the 2023 Post Utme Ksu Economics examination.

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