Post Utme Babcock University 2024 Economics Question 5

Practice objective / multiple choice question 5 from the 2024 Post Utme Babcock University Economics examination.

Post Utme Babcock University 2024 Economics Objective / Multiple Choice
Question 5 POST_UTME_BABCOCK_UNIVERSITY • 2024 • ECONOMICS • objective

A firm's revenue function is given by R = 100Q - 2Q^2, where R is revenue and Q is quantity. If the firm increases its price by 10% and the quantity sold increases by 20%, what is the new revenue function equation?

Answer Options

Correct Answer A. R = 110Q - 2.4Q^2
B. R = 110Q - 2.2Q^2
C. R = 100Q - 2.4Q^2
D. R = 100Q - 2.2Q^2
Correct Answer
A
Correct Option:
R = 110Q - 2.4Q^2

About This Question

This is Post Utme Babcock University 2024 Economics Question 5. It is one of the objective questions from the 2024 Post Utme Babcock University Economics examination.

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