Post Utme Veritas University 2022 Commerce Question 11

Practice objective / multiple choice question 11 from the 2022 Post Utme Veritas University Commerce examination.

Post Utme Veritas University 2022 Commerce Objective / Multiple Choice
Question 11 POST_UTME_VERITAS_UNIVERSITY • 2022 • 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 such a market?

Answer Options

Correct Answer A. ₦100, 100 units
B. ₦120, 80 units
C. ₦150, 60 units
D. ₦180, 40 units
Correct Answer
A
Correct Option:
₦100, 100 units

About This Question

This is Post Utme Veritas University 2022 Commerce Question 11. It is one of the objective questions from the 2022 Post Utme Veritas University Commerce examination.

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