Post Utme Afe Babalola University 2019 Economics Question 7

Practice objective / multiple choice question 7 from the 2019 Post Utme Afe Babalola University Economics examination.

Post Utme Afe Babalola University 2019 Economics Objective / Multiple Choice
Question 7 POST_UTME_AFE_BABALOLA_UNIVERSITY • 2019 • ECONOMICS • objective

A firm's \cost function is given by C(q) = 2q^2 + 10q + 5. If the firm's revenue function is R(q) = 20q - 2q^2, calculate the firm's profit function.

Answer Options

Correct Answer A. R(q) - C(q) = 8q - 2q^2
B. R(q) - C(q) = 12q - 2q^2
C. R(q) - C(q) = 16q - 2q^2
D. R(q) - C(q) = 20q - 2q^2
Correct Answer
A
Correct Option:
R(q) - C(q) = 8q - 2q^2

About This Question

This is Post Utme Afe Babalola University 2019 Economics Question 7. It is one of the objective questions from the 2019 Post Utme Afe Babalola University Economics examination.

View More Post Utme Afe Babalola University 2019 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