Post Utme Pan Atlantic University 2022 Commerce Question 6

Practice objective / multiple choice question 6 from the 2022 Post Utme Pan Atlantic University Commerce examination.

Post Utme Pan Atlantic University 2022 Commerce Objective / Multiple Choice
Question 6 POST_UTME_PAN-ATLANTIC_UNIVERSITY • 2022 • 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?

Answer Options

A. ₦100, 100 units
Correct Answer B. ₦120, 80 units
C. ₦150, 60 units
D. ₦180, 40 units
Correct Answer
B
Correct Option:
₦120, 80 units

About This Question

This is Post Utme Pan Atlantic University 2022 Commerce Question 6. It is one of the objective questions from the 2022 Post Utme Pan Atlantic University Commerce examination.

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