Post Utme Oau 2020 Economics Question 26

Practice objective / multiple choice question 26 from the 2020 Post Utme Oau Economics examination.

Post Utme Oau 2020 Economics Objective / Multiple Choice
Question 26 POST_UTME_OAU • 2020 • ECONOMICS • objective

Consider a perfectly competitive market with n firms, each producing a homogeneous product. If the market demand curve is downward sloping and the firms are price takers, what is the equilibrium price and quantity of the product?

Answer Options

Correct Answer A. \( P = 10, Q = 100 \)
B. \( P = 20, Q = 50 \)
C. \( P = 5, Q = 200 \)
D. \( P = 15, Q = 150 \)
Correct Answer
A
Correct Option:
\( P = 10, Q = 100 \)

About This Question

This is Post Utme Oau 2020 Economics Question 26. It is one of the objective questions from the 2020 Post Utme Oau Economics examination.

View More Post Utme Oau 2020 Economics Questions More Post Utme Oau Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support