Post Utme Futo 2022 Economics Question 7

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

Post Utme Futo 2022 Economics Objective / Multiple Choice
Question 7 POST_UTME_FUTO • 2022 • ECONOMICS • objective

A monopolistically competitive firm faces a demand curve given by Q = 100 - 2P. The firm's marginal revenue function is given by MR = 50 - 2Q. Find the firm's profit-maximizing price and quantity.

Answer Options

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

About This Question

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

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