Post Utme Caleb University 2023 Economics Question 12

Practice objective / multiple choice question 12 from the 2023 Post Utme Caleb University Economics examination.

Post Utme Caleb University 2023 Economics Objective / Multiple Choice
Question 12 POST_UTME_CALEB_UNIVERSITY • 2023 • ECONOMICS • objective

A firm's total revenue function is given by TR(q) = 100q - 2q^2. If the firm's marginal revenue function is MR(q) = 100 - 4q, what is the firm's optimal output level?

Answer Options

Correct Answer A. q^* = 20
B. q^* = 25
C. q^* = 10
D. q^* = 15
Correct Answer
A
Correct Option:
q^* = 20

About This Question

This is Post Utme Caleb University 2023 Economics Question 12. It is one of the objective questions from the 2023 Post Utme Caleb University Economics examination.

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