Waec Model Questions Vol1 2022 Economics Question 15
Practice objective / multiple choice question 15 from the 2022 Waec Model Questions Vol1 Economics examination.
An automobile manufacturer has the total‑cost function TC(Q) = 200,000 + 50Q + 0.2Q², where Q is the number of cars produced per month. The market price per car is ₦120,000. A new technology reduces the marginal cost of each additional car beyond the first 500 cars by 10 % of the original marginal cost. Determine the range of output (in whole cars) for which the firm should produce to maximise profit, assuming there is no capacity limit.
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About This Question
This is Waec Model Questions Vol1 2022 Economics Question 15. It is one of the objective questions from the 2022 Waec Model Questions Vol1 Economics examination.
Difficulty level: Hard .
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