Post Utme Summit University 2024 Commerce Question 16

Practice objective / multiple choice question 16 from the 2024 Post Utme Summit University Commerce examination.

Post Utme Summit University 2024 Commerce Objective / Multiple Choice
Question 16 POST_UTME_SUMMIT_UNIVERSITY • 2024 • 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, 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 Summit University 2024 Commerce Question 16. It is one of the objective questions from the 2024 Post Utme Summit University Commerce examination.

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