Post Utme Abu 2023 Economics Question 37

Practice objective / multiple choice question 37 from the 2023 Post Utme Abu Economics examination.

Post Utme Abu 2023 Economics Objective / Multiple Choice
Question 37 POST_UTME_ABU • 2023 • ECONOMICS • objective

A monopolist produces a product with a cons\tant marginal \cost of ₦50 and a cons\tant marginal revenue of ₦75. If the demand for the product is given by the equation Q = 100 - 2P, where Q is the quantity demanded and P is the price, what is the profit-maximizing quantity and price?

Answer Options

A. Q = 25, P = ₦50
Correct Answer B. Q = 50, P = ₦75
C. Q = 75, P = ₦100
D. Q = 100, P = ₦150
Correct Answer
B
Correct Option:
Q = 50, P = ₦75

About This Question

This is Post Utme Abu 2023 Economics Question 37. It is one of the objective questions from the 2023 Post Utme Abu Economics examination.

View More Post Utme Abu 2023 Economics Questions More Post Utme Abu Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support