Post Utme Veritas University 2017 Economics Question 9

Practice objective / multiple choice question 9 from the 2017 Post Utme Veritas University Economics examination.

Post Utme Veritas University 2017 Economics Objective / Multiple Choice
Question 9 POST_UTME_VERITAS_UNIVERSITY • 2017 • ECONOMICS • objective

The concept of demand and supply in economics suggests that the price of a good is determined by the intersection of the demand and supply curves. Which of the following is a correct example of a demand and supply equilibrium?

Answer Options

A. A situation where the demand curve is steeper than the supply curve.
B. A situation where the demand curve is flatter than the supply curve.
Correct Answer C. A situation where the demand curve intersects the supply curve at a price of ₦100.
D. A situation where the demand curve intersects the supply curve at a quantity of 100 units.
Correct Answer
C
Correct Option:
A situation where the demand curve intersects the supply curve at a price of ₦100.

About This Question

This is Post Utme Veritas University 2017 Economics Question 9. It is one of the objective questions from the 2017 Post Utme Veritas University Economics examination.

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