Post Utme Bsu 2018 Economics Question 40

Practice objective / multiple choice question 40 from the 2018 Post Utme Bsu Economics examination.

Post Utme Bsu 2018 Economics Objective / Multiple Choice

Question 40 POST_UTME_BSU • 2018 • ECONOMICS • objective

A firm is considering the introduction of a new product into the market. The firm has estimated that the demand for the product will be given by the equation Q = 100 - 2P, where Q is the quantity demanded and P is the price. The firm's \cost function is given by C = 50 + 2Q. What is the profit-maximizing price and quantity for the firm?

Correct Answer A. P = 20, Q = 40

B. P = 30, Q = 50

C. P = 40, Q = 60

D. P = 50, Q = 70

Correct Answer

Correct Option:

P = 20, Q = 40

This is Post Utme Bsu 2018 Economics Question 40. It is one of the objective questions from the 2018 Post Utme Bsu Economics examination.

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