Post Utme Christopher University 2019 Economics Question 29

Practice objective / multiple choice question 29 from the 2019 Post Utme Christopher University Economics examination.

Post Utme Christopher University 2019 Economics Objective / Multiple Choice
Question 29 POST_UTME_CHRISTOPHER_UNIVERSITY • 2019 • ECONOMICS • objective

Consider a firm operating in a perfectly competitive market with a given \cost function C(q) = 2q^2 + 10q + 5 and a revenue function R(q) = 20q. U\sing the concept of marginal revenue and marginal \cost, determine the profit-maximizing quantity of output.

Answer Options

Correct Answer A. \( MR = MC \) at q = 5
B. \( MR = MC \) at q = 10
C. \( MR > MC \) at q = 5
D. \( MR < MC \) at q = 10
Correct Answer
A
Correct Option:
\( MR = MC \) at q = 5

About This Question

This is Post Utme Christopher University 2019 Economics Question 29. It is one of the objective questions from the 2019 Post Utme Christopher University Economics examination.

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