Post Utme Veritas University 2018 Economics Question 26

Practice objective / multiple choice question 26 from the 2018 Post Utme Veritas University Economics examination.

Post Utme Veritas University 2018 Economics Objective / Multiple Choice

Question 26 POST_UTME_VERITAS_UNIVERSITY • 2018 • ECONOMICS • objective

In a perfectly competitive market, the supply curve is upward-sloping and the demand curve is downward-sloping. What is the equilibrium price and quantity of a product in this market?

Answer Options

A. \( P = 10, Q = 100 \)

B. \( P = 20, Q = 50 \)

Correct Answer C. \( P = 15, Q = 75 \)

D. \( P = 25, Q = 25 \)

Correct Answer

Correct Option:

\( P = 15, Q = 75 \)

About This Question

This is Post Utme Veritas University 2018 Economics Question 26. It is one of the objective questions from the 2018 Post Utme Veritas University Economics examination.

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