Post Utme Achievers University 2019 Economics Question 6

Practice objective / multiple choice question 6 from the 2019 Post Utme Achievers University Economics examination.

Post Utme Achievers University 2019 Economics Objective / Multiple Choice
Question 6 POST_UTME_ACHIEVERS_UNIVERSITY • 2019 • ECONOMICS • objective

Consider a monopolistically competitive firm facing the demand curve ( D(p) = 100 - 2p ) and the supply curve ( S(p) = 20 + 5p ). If the firm's marginal revenue is ( MR(p) = 100 - 4p ), find the profit-maximizing price and quantity.

Answer Options

Correct Answer A. \( p = 15, q = 35 \)
B. \( p = 20, q = 30 \)
C. \( p = 25, q = 25 \)
D. \( p = 30, q = 20 \)
Correct Answer
A
Correct Option:
\( p = 15, q = 35 \)

About This Question

This is Post Utme Achievers University 2019 Economics Question 6. It is one of the objective questions from the 2019 Post Utme Achievers University Economics examination.

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