Post Utme Wellspring University 2017 Commerce Question 36

Practice objective / multiple choice question 36 from the 2017 Post Utme Wellspring University Commerce examination.

Post Utme Wellspring University 2017 Commerce Objective / Multiple Choice
Question 36 POST_UTME_WELLSPRING_UNIVERSITY • 2017 • 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 of a commodity in such a market?

Answer Options

A. ₦500, 100 units
Correct Answer B. ₦600, 120 units
C. ₦700, 150 units
D. ₦800, 180 units
Correct Answer
B
Correct Option:
₦600, 120 units

About This Question

This is Post Utme Wellspring University 2017 Commerce Question 36. It is one of the objective questions from the 2017 Post Utme Wellspring University Commerce examination.

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