Post Utme Babcock University 2025 Economics Question 21

Practice objective / multiple choice question 21 from the 2025 Post Utme Babcock University Economics examination.

Post Utme Babcock University 2025 Economics Objective / Multiple Choice
Question 21 POST_UTME_BABCOCK_UNIVERSITY • 2025 • ECONOMICS • objective

Consider a perfectly competitive market with n firms, each producing a homogeneous product. If the market price is P = 10, and the inverse demand function is given by P = 100 - Q, where Q is the total quantity demanded, what is the marginal revenue (MR) function for a \single firm?

Answer Options

Correct Answer A. 10 - \frac{Q}{n}
B. 100 - 2Q
C. 10 - \frac{Q}{n} + \frac{Q^2}{n^2}
D. 100 - 2Q - \frac{Q^2}{n}
Correct Answer
A
Correct Option:
10 - \frac{Q}{n}

About This Question

This is Post Utme Babcock University 2025 Economics Question 21. It is one of the objective questions from the 2025 Post Utme Babcock University Economics examination.

View More Post Utme Babcock University 2025 Economics Questions More Post Utme Babcock 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