Post Utme Caleb University 2024 Economics Question 6

Practice objective / multiple choice question 6 from the 2024 Post Utme Caleb University Economics examination.

Post Utme Caleb University 2024 Economics Objective / Multiple Choice

Question 6 POST_UTME_CALEB_UNIVERSITY • 2024 • ECONOMICS • objective

A firm operating in a perfectly competitive market produces a good with the following \cost and revenue functions: C(q) = 10q + 100 and R(q) = 20q. Find the profit-maximizing quantity and price of the good.

Answer Options

Correct Answer A. q = 5, P = 30

B. q = 10, P = 20

C. q = 15, P = 15

D. q = 20, P = 10

Correct Answer

Correct Option:

q = 5, P = 30

About This Question

This is Post Utme Caleb University 2024 Economics Question 6. It is one of the objective questions from the 2024 Post Utme Caleb University Economics examination.

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