Post Utme Caleb University 2020 Economics Question 23

Practice objective / multiple choice question 23 from the 2020 Post Utme Caleb University Economics examination.

Post Utme Caleb University 2020 Economics Objective / Multiple Choice

Question 23 POST_UTME_CALEB_UNIVERSITY • 2020 • ECONOMICS • objective

A firm has a \cost function C(q) = 10q + 20, where q is the quantity produced. If the firm's revenue function is R(q) = 20q, what is the firm's profit-maximizing quantity?

Answer Options

A. q = 2

Correct Answer B. q = 3

C. q = 4

D. q = 5

Correct Answer

Correct Option:

q = 3

About This Question

This is Post Utme Caleb University 2020 Economics Question 23. It is one of the objective questions from the 2020 Post Utme Caleb University Economics examination.

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