Post Utme Noun 2019 Economics Question 32

Practice objective / multiple choice question 32 from the 2019 Post Utme Noun Economics examination.

Post Utme Noun 2019 Economics Objective / Multiple Choice
Question 32 POST_UTME_NOUN • 2019 • ECONOMICS • objective

A perfectly competitive market has a downward-sloping demand curve and a horizontal supply curve. What is the equilibrium price and quantity?

Answer Options

Correct Answer A. Price = $10, Quantity = 100 units
B. Price = $20, Quantity = 200 units
C. Price = $5, Quantity = 50 units
D. Price = $15, Quantity = 150 units
Correct Answer
A
Correct Option:
Price = $10, Quantity = 100 units

About This Question

This is Post Utme Noun 2019 Economics Question 32. It is one of the objective questions from the 2019 Post Utme Noun Economics examination.

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