Post Utme Coal City University 2021 Economics Question 3

Practice objective / multiple choice question 3 from the 2021 Post Utme Coal City University Economics examination.

Post Utme Coal City University 2021 Economics Objective / Multiple Choice
Question 3 POST_UTME_COAL_CITY_UNIVERSITY • 2021 • ECONOMICS • objective

A monopolist faces a demand curve with the following equation: Q = 100 - 2P. If the firm's marginal revenue (MR) is given by MR = 200 - 2Q, what is the firm's optimal price and quantity?

Answer Options

A. P = ₦50, Q = 25
Correct Answer B. P = ₦75, Q = 50
C. P = ₦100, Q = 75
D. P = ₦125, Q = 100
Correct Answer
B
Correct Option:
P = ₦75, Q = 50

About This Question

This is Post Utme Coal City University 2021 Economics Question 3. It is one of the objective questions from the 2021 Post Utme Coal City University Economics examination.

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