Post Utme Bowen University 2017 Economics Question 24

Practice objective / multiple choice question 24 from the 2017 Post Utme Bowen University Economics examination.

Post Utme Bowen University 2017 Economics Objective / Multiple Choice

Question 24 POST_UTME_BOWEN_UNIVERSITY • 2017 • ECONOMICS • objective

A firm's revenue function is given by R = 100Q - 2Q^2, where R is the revenue and Q is the quantity sold. If the firm's \cost function is given by C = 50Q + 10Q^2, what is the firm's profit function?

Answer Options

Correct Answer A. π = 50Q - 12Q^2

B. π = 150Q - 12Q^2

C. π = 200Q - 12Q^2

D. π = 250Q - 12Q^2

Correct Answer

Correct Option:

π = 50Q - 12Q^2

About This Question

This is Post Utme Bowen University 2017 Economics Question 24. It is one of the objective questions from the 2017 Post Utme Bowen University Economics examination.

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