Post Utme Al Hikmah University 2021 Economics Question 8

Practice objective / multiple choice question 8 from the 2021 Post Utme Al Hikmah University Economics examination.

Post Utme Al Hikmah University 2021 Economics Objective / Multiple Choice
Question 8 POST_UTME_AL-HIKMAH_UNIVERSITY • 2021 • ECONOMICS • objective

A monopolist faces a demand curve with the following equation: \( Q = 100 - 2P \). If the marginal \cost curve is given by \( MC = 10 + 2Q \), what is the profit-maximizing price and quantity?

Answer Options

Correct Answer A. \( P = 40, Q = 30 \)
B. \( P = 50, Q = 25 \)
C. \( P = 60, Q = 20 \)
D. \( P = 70, Q = 15 \)
Correct Answer
A
Correct Option:
\( P = 40, Q = 30 \)

About This Question

This is Post Utme Al Hikmah University 2021 Economics Question 8. It is one of the objective questions from the 2021 Post Utme Al Hikmah University Economics examination.

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