Post Utme Pan Atlantic University 2019 Economics Question 27

Practice objective / multiple choice question 27 from the 2019 Post Utme Pan Atlantic University Economics examination.

Post Utme Pan Atlantic University 2019 Economics Objective / Multiple Choice

Question 27 POST_UTME_PAN-ATLANTIC_UNIVERSITY • 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

A. Price = $10, Quantity = 100

Correct Answer B. Price = $5, Quantity = 50

C. Price = $15, Quantity = 150

D. Price = $20, Quantity = 200

Correct Answer

Correct Option:

Price = $5, Quantity = 50

About This Question

This is Post Utme Pan Atlantic University 2019 Economics Question 27. It is one of the objective questions from the 2019 Post Utme Pan Atlantic University Economics examination.

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