Post Utme Achievers University 2023 Economics Question 7

Practice objective / multiple choice question 7 from the 2023 Post Utme Achievers University Economics examination.

Post Utme Achievers University 2023 Economics Objective / Multiple Choice

Question 7 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 marginal revenue (MR), determine the monopolist's profit-maximizing 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 7. It is one of the objective questions from the 2023 Post Utme Achievers University Economics examination.

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