Waec Model Questions Vol1 2023 Economics Question 1
Practice objective / multiple choice question 1 from the 2023 Waec Model Questions Vol1 Economics examination.
A firm's total cost function for producing a product is TC = 5,000 + 20Q + 0.02Q², where Q is the quantity produced. The firm sells each unit at a pre‑tax price of ₦150. The government imposes a sales tax of 10% on the firm's revenue, which the firm must pay. The firm wishes to earn a profit of exactly ₦30,000 after paying the tax. What is the minimum integer quantity Q that must be produced and sold to achieve this profit target?
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About This Question
This is Waec Model Questions Vol1 2023 Economics Question 1. It is one of the objective questions from the 2023 Waec Model Questions Vol1 Economics examination.
Difficulty level: Medium .
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