Post Utme Afe Babalola University 2018 Economics Question 2

Practice objective / multiple choice question 2 from the 2018 Post Utme Afe Babalola University Economics examination.

Post Utme Afe Babalola University 2018 Economics Objective / Multiple Choice

Question 2 POST_UTME_AFE_BABALOLA_UNIVERSITY • 2018 • ECONOMICS • objective

A monopolist produces a good with a demand curve given by Q = 100 - 2P and a \cost function given by C(Q) = 10Q + 100. What is the profit-maximizing price and quantity?

Answer Options

Correct Answer A. P = 50, Q = 50

B. P = 40, Q = 60

C. P = 60, Q = 40

D. P = 70, Q = 30

Correct Answer

Correct Option:

P = 50, Q = 50

About This Question

This is Post Utme Afe Babalola University 2018 Economics Question 2. It is one of the objective questions from the 2018 Post Utme Afe Babalola University Economics examination.

View More Post Utme Afe Babalola University 2018 Economics Questions More Post Utme Afe Babalola 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