Post Utme Lautech 2018 Commerce Question 1

Practice objective / multiple choice question 1 from the 2018 Post Utme Lautech Commerce examination.

Post Utme Lautech 2018 Commerce Objective / Multiple Choice
Question 1 POST_UTME_LAUTECH • 2018 • 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 product in this market?

Answer Options

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

About This Question

This is Post Utme Lautech 2018 Commerce Question 1. It is one of the objective questions from the 2018 Post Utme Lautech Commerce examination.

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