Post Utme Rsu 2020 Commerce Question 21

Practice objective / multiple choice question 21 from the 2020 Post Utme Rsu Commerce examination.

Post Utme Rsu 2020 Commerce Objective / Multiple Choice
Question 21 POST_UTME_RSU • 2020 • 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 in this market?

Answer Options

A. ₦100, 1000 units
Correct Answer B. ₦120, 800 units
C. ₦150, 600 units
D. ₦180, 400 units
Correct Answer
B
Correct Option:
₦120, 800 units

About This Question

This is Post Utme Rsu 2020 Commerce Question 21. It is one of the objective questions from the 2020 Post Utme Rsu Commerce examination.

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