Post Utme Lasu 2024 Commerce Question 11

Practice objective / multiple choice question 11 from the 2024 Post Utme Lasu Commerce examination.

Post Utme Lasu 2024 Commerce Objective / Multiple Choice
Question 11 POST_UTME_LASU • 2024 • COMMERCE • objective

In a market with perfect competition, the demand curve is downward sloping and the supply curve is upward sloping. What is the equilibrium price and quantity of the product?

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 Lasu 2024 Commerce Question 11. It is one of the objective questions from the 2024 Post Utme Lasu Commerce examination.

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