Post Utme Bells University 2021 Economics Question 17

Practice objective / multiple choice question 17 from the 2021 Post Utme Bells University Economics examination.

Post Utme Bells University 2021 Economics Objective / Multiple Choice
Question 17 POST_UTME_BELLS_UNIVERSITY • 2021 • ECONOMICS • objective

A monopolistically competitive firm faces a demand curve given by \( Q = 100 - 2P \). If the firm's marginal revenue curve is given by \( MR = 50 - P \), what is the firm's profit-maximizing price and quantity?

Answer Options

A. \( P = 20, Q = 60 \)
Correct Answer B. \( P = 25, Q = 50 \)
C. \( P = 30, Q = 40 \)
D. \( P = 35, Q = 30 \)
Correct Answer
B
Correct Option:
\( P = 25, Q = 50 \)

About This Question

This is Post Utme Bells University 2021 Economics Question 17. It is one of the objective questions from the 2021 Post Utme Bells University Economics examination.

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