Post Utme Elizade University 2024 Economics Question 29

Practice objective / multiple choice question 29 from the 2024 Post Utme Elizade University Economics examination.

Post Utme Elizade University 2024 Economics Objective / Multiple Choice
Question 29 POST_UTME_ELIZADE_UNIVERSITY • 2024 • ECONOMICS • objective

A firm operates in a perfectly competitive market with a demand curve given by Q = 100 - 2P and a \cost function of C(Q) = 2Q^2 + 10Q. Find the firm's profit-maximizing quantity and price.

Answer Options

Correct Answer A. Q = 20, P = ₦40
B. Q = 30, P = ₦60
C. Q = 40, P = ₦80
D. Q = 50, P = ₦100
Correct Answer
A
Correct Option:
Q = 20, P = ₦40

About This Question

This is Post Utme Elizade University 2024 Economics Question 29. It is one of the objective questions from the 2024 Post Utme Elizade University Economics examination.

View More Post Utme Elizade University 2024 Economics Questions More Post Utme Elizade University Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support