Post Utme Covenant University 2017 Economics Question 28

Practice objective / multiple choice question 28 from the 2017 Post Utme Covenant University Economics examination.

Post Utme Covenant University 2017 Economics Objective / Multiple Choice
Question 28 POST_UTME_COVENANT_UNIVERSITY • 2017 • ECONOMICS • objective

A firm has a total revenue function given by \( TR = 2Q^2 + 10Q \) and a total \cost function given by \( TC = Q^2 + 5Q \). Find the profit-maximizing quantity and price.

Answer Options

A. \( Q = 5, P = 15 \)
B. \( Q = 10, P = 20 \)
Correct Answer C. \( Q = 15, P = 25 \)
D. \( Q = 20, P = 30 \)
Correct Answer
C
Correct Option:
\( Q = 15, P = 25 \)

About This Question

This is Post Utme Covenant University 2017 Economics Question 28. It is one of the objective questions from the 2017 Post Utme Covenant University Economics examination.

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