Post Utme Esut 2023 Economics Question 14

Practice objective / multiple choice question 14 from the 2023 Post Utme Esut Economics examination.

Post Utme Esut 2023 Economics Objective / Multiple Choice
Question 14 POST_UTME_ESUT • 2023 • ECONOMICS • objective

A firm is facing a downward-sloping demand curve given by Q = 100 - 2P. If the firm's marginal revenue is MR = 20, what is the optimal price and quantity?

Answer Options

A. P = 40, Q = 30
Correct Answer B. P = 50, Q = 25
C. P = 60, Q = 20
D. P = 70, Q = 15
Correct Answer
B
Correct Option:
P = 50, Q = 25

About This Question

This is Post Utme Esut 2023 Economics Question 14. It is one of the objective questions from the 2023 Post Utme Esut Economics examination.

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