Post Utme Futo 2019 Economics Question 3

Practice objective / multiple choice question 3 from the 2019 Post Utme Futo Economics examination.

Post Utme Futo 2019 Economics Objective / Multiple Choice
Question 3 POST_UTME_FUTO • 2019 • ECONOMICS • objective

A monopoly firm produces a product with a cons\tant marginal \cost of ₦10 and a demand function Q = 100 - 2P. If the firm's objective is to maximize profit, what is the optimal price and quantity to produce?

Answer Options

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

About This Question

This is Post Utme Futo 2019 Economics Question 3. It is one of the objective questions from the 2019 Post Utme Futo Economics examination.

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