Post Utme Al Hikmah University 2021 Economics Question 14

Practice objective / multiple choice question 14 from the 2021 Post Utme Al Hikmah University Economics examination.

Post Utme Al Hikmah University 2021 Economics Objective / Multiple Choice

Question 14 POST_UTME_AL-HIKMAH_UNIVERSITY • 2021 • ECONOMICS • objective

A monopolist is facing a demand curve given by Qd = 100 - 2P, and its marginal revenue curve is given by MR = 2P. What is the monopolist's optimal price and quantity?

Answer Options

Correct Answer A. P = ₦20, Q = 60

B. P = ₦30, Q = 40

C. P = ₦40, Q = 20

D. P = ₦50, Q = 10

Correct Answer

Correct Option:

P = ₦20, Q = 60

About This Question

This is Post Utme Al Hikmah University 2021 Economics Question 14. It is one of the objective questions from the 2021 Post Utme Al Hikmah University Economics examination.

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