Post Utme Al Hikmah University 2017 Economics Question 32

Practice objective / multiple choice question 32 from the 2017 Post Utme Al Hikmah University Economics examination.

Post Utme Al Hikmah University 2017 Economics Objective / Multiple Choice
Question 32 POST_UTME_AL-HIKMAH_UNIVERSITY • 2017 • ECONOMICS • objective

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

Answer Options

A. The profit-maximizing price is $20 and the profit-maximizing quantity is 40
Correct Answer B. The profit-maximizing price is $30 and the profit-maximizing quantity is 60
C. The profit-maximizing price is $40 and the profit-maximizing quantity is 80
D. The profit-maximizing price is $50 and the profit-maximizing quantity is 100
Correct Answer
B
Correct Option:
The profit-maximizing price is $30 and the profit-maximizing quantity is 60

About This Question

This is Post Utme Al Hikmah University 2017 Economics Question 32. It is one of the objective questions from the 2017 Post Utme Al Hikmah University Economics examination.

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