Post Utme Osustech 2023 Commerce Question 16

Practice objective / multiple choice question 16 from the 2023 Post Utme Osustech Commerce examination.

Post Utme Osustech 2023 Commerce Objective / Multiple Choice
Question 16 POST_UTME_OSUSTECH • 2023 • 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? Assume that the market is in equilibrium and the price is ₦100.

Answer Options

A. ( Q = 100, P = ₦100 )
B. ( Q = 50, P = ₦200 )
C. ( Q = 200, P = ₦50 )
Correct Answer D. ( Q = 150, P = ₦66.67 )
Correct Answer
D
Correct Option:
( Q = 150, P = ₦66.67 )

About This Question

This is Post Utme Osustech 2023 Commerce Question 16. It is one of the objective questions from the 2023 Post Utme Osustech Commerce examination.

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