Post Utme Afe Babalola University 2018 Economics Question 31

Practice objective / multiple choice question 31 from the 2018 Post Utme Afe Babalola University Economics examination.

Post Utme Afe Babalola University 2018 Economics Objective / Multiple Choice
Question 31 POST_UTME_AFE_BABALOLA_UNIVERSITY • 2018 • ECONOMICS • objective

Consider a firm operating in a perfectly competitive market with a given production function \( Q = f\( L \ \) = 2L^2 ). If the wage rate is \( W = 10 \) and the firm's revenue function is \( R = 20Q \), calculate the firm's profit-maximizing output level.

Answer Options

A. \( Q = 10 \)
Correct Answer B. \( Q = 20 \)
C. \( Q = 30 \)
D. \( Q = 40 \)
Correct Answer
B
Correct Option:
\( Q = 20 \)

About This Question

This is Post Utme Afe Babalola University 2018 Economics Question 31. It is one of the objective questions from the 2018 Post Utme Afe Babalola University Economics examination.

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