Post Utme Achievers University 2023 Economics Question 10

Practice objective / multiple choice question 10 from the 2023 Post Utme Achievers University Economics examination.

Post Utme Achievers University 2023 Economics Objective / Multiple Choice

Question 10 POST_UTME_ACHIEVERS_UNIVERSITY • 2023 • ECONOMICS • objective

A monopolist faces a demand curve given by p = 100 - 2q. The firm's marginal \cost (MC) is cons\tant at 20. U\sing the concept of elasticity of demand, determine the monopolist's optimal price and quantity.

Answer Options

A. Price = 60, Quantity = 20

Correct Answer B. Price = 80, Quantity = 30

C. Price = 90, Quantity = 40

D. Price = 100, Quantity = 50

Correct Answer

Correct Option:

Price = 80, Quantity = 30

About This Question

This is Post Utme Achievers University 2023 Economics Question 10. It is one of the objective questions from the 2023 Post Utme Achievers University Economics examination.

View More Post Utme Achievers University 2023 Economics Questions More Post Utme Achievers University 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