Post Utme Futo 2023 Economics Question 18

Practice objective / multiple choice question 18 from the 2023 Post Utme Futo Economics examination.

Post Utme Futo 2023 Economics Objective / Multiple Choice
Question 18 POST_UTME_FUTO • 2023 • ECONOMICS • objective

A firm's \cost function is given by the equation C(q) = 50 + 2q^2, where q is the quantity produced. If the firm's revenue function is TR(q) = 100q - 2q^2, find the profit function.

Answer Options

Correct Answer A. \text{Profit} = 50q - 4q^2
B. \text{Profit} = 50q + 4q^2
C. \text{Profit} = 100q - 4q^2
D. \text{Profit} = 100q + 4q^2
Correct Answer
A
Correct Option:
\text{Profit} = 50q - 4q^2

About This Question

This is Post Utme Futo 2023 Economics Question 18. It is one of the objective questions from the 2023 Post Utme Futo Economics examination.

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