Post Utme Mountain Top University 2018 Commerce Question 1

Practice objective / multiple choice question 1 from the 2018 Post Utme Mountain Top University Commerce examination.

Post Utme Mountain Top University 2018 Commerce Objective / Multiple Choice
Question 1 POST_UTME_MOUNTAIN_TOP_UNIVERSITY • 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 commodity in this market?

Answer Options

Correct Answer A. ₦1500 and 1000 units
B. ₦2000 and 500 units
C. ₦2500 and 200 units
D. ₦3000 and 100 units
Correct Answer
A
Correct Option:
₦1500 and 1000 units

About This Question

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

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