Post Utme Christopher University 2023 Economics Question 37

Practice objective / multiple choice question 37 from the 2023 Post Utme Christopher University Economics examination.

Post Utme Christopher University 2023 Economics Objective / Multiple Choice
Question 37 POST_UTME_CHRISTOPHER_UNIVERSITY • 2023 • ECONOMICS • objective

A firm is producing a good with a total revenue of ₦1000 and a total \cost of ₦800. U\sing the concept of profit maximization, explain how the firm will allocate its resources to maximize profit.

Answer Options

A. The firm will allocate its resources to produce the good at a price of ₦200.
B. The firm will allocate its resources to produce the good at a price of ₦300.
Correct Answer C. The firm will allocate its resources to produce the good at a price of ₦400.
D. The firm will allocate its resources to produce the good at a price of ₦500.
Correct Answer
C
Correct Option:
The firm will allocate its resources to produce the good at a price of ₦400.

About This Question

This is Post Utme Christopher University 2023 Economics Question 37. It is one of the objective questions from the 2023 Post Utme Christopher University Economics examination.

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