Post Utme Greenfield University 2021 Economics Question 17

Practice objective / multiple choice question 17 from the 2021 Post Utme Greenfield University Economics examination.

Post Utme Greenfield University 2021 Economics Objective / Multiple Choice

Question 17 POST_UTME_GREENFIELD_UNIVERSITY • 2021 • ECONOMICS • objective

A monopolist faces a demand curve given by Qd = 100 - 2P and a marginal revenue curve given by MR = 20 - 2P. If the price elasticity of demand is 0.5, what is the optimal price and quantity for the monopolist?

Answer Options

Correct Answer A. Price = 40, Quantity = 30

B. Price = 50, Quantity = 25

C. Price = 60, Quantity = 20

D. Price = 70, Quantity = 15

Correct Answer

Correct Option:

Price = 40, Quantity = 30

About This Question

This is Post Utme Greenfield University 2021 Economics Question 17. It is one of the objective questions from the 2021 Post Utme Greenfield University Economics examination.

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