Post Utme Uniben 2025 Economics Question 16

Practice objective / multiple choice question 16 from the 2025 Post Utme Uniben Economics examination.

Post Utme Uniben 2025 Economics Objective / Multiple Choice

Question 16 POST_UTME_UNIBEN • 2025 • ECONOMICS • objective

Consider a perfectly competitive market with n firms, each producing a homogeneous product. If the market demand curve is D(p) = 100 - 2p and the marginal \cost (MC) of each firm is 10, what is the equilibrium price and quantity?

Answer Options

Correct Answer A. \( p = 20, q = 40 \)

B. \( p = 30, q = 30 \)

C. \( p = 40, q = 20 \)

D. \( p = 50, q = 10 \)

Correct Answer

Correct Option:

\( p = 20, q = 40 \)

About This Question

This is Post Utme Uniben 2025 Economics Question 16. It is one of the objective questions from the 2025 Post Utme Uniben Economics examination.

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