Post Utme Elizade University 2022 Economics Question 7

Practice objective / multiple choice question 7 from the 2022 Post Utme Elizade University Economics examination.

Post Utme Elizade University 2022 Economics Objective / Multiple Choice
Question 7 POST_UTME_ELIZADE_UNIVERSITY • 2022 • ECONOMICS • objective

A monopolist firm produces a product with a demand function given by Q = 100 - 2P, where Q is the quantity demanded and P is the price. The firm's marginal \cost (MC) is given by MC = 10 + 2Q. What is the profit-maximizing price and quantity for the firm?

Answer Options

Correct Answer A. Price = ₦50, Quantity = 40 units
B. Price = ₦75, Quantity = 25 units
C. Price = ₦100, Quantity = 20 units
D. Price = ₦125, Quantity = 15 units
Correct Answer
A
Correct Option:
Price = ₦50, Quantity = 40 units

About This Question

This is Post Utme Elizade University 2022 Economics Question 7. It is one of the objective questions from the 2022 Post Utme Elizade University Economics examination.

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