Post Utme Delsu 2023 Economics Question 4

Practice objective / multiple choice question 4 from the 2023 Post Utme Delsu Economics examination.

Post Utme Delsu 2023 Economics Objective / Multiple Choice
Question 4 POST_UTME_DELSU • 2023 • ECONOMICS • objective

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

Answer Options

Correct Answer A. P = 50, Q = 25
B. P = 75, Q = 12.5
C. P = 100, Q = 0
D. P = 0, Q = 100
Correct Answer
A
Correct Option:
P = 50, Q = 25

About This Question

This is Post Utme Delsu 2023 Economics Question 4. It is one of the objective questions from the 2023 Post Utme Delsu Economics examination.

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