Post Utme Greenfield University 2024 Economics Question 8

Practice objective / multiple choice question 8 from the 2024 Post Utme Greenfield University Economics examination.

Post Utme Greenfield University 2024 Economics Objective / Multiple Choice
Question 8 POST_UTME_GREENFIELD_UNIVERSITY • 2024 • ECONOMICS • objective

A monopolist faces a demand curve given by the equation \( Q = 100 - 2P \). If the marginal \cost of production is $8, what is the profit-maximizing price and quantity of output?

Answer Options

Correct Answer A. \( P = 40, Q = 60 \)
B. \( P = 30, Q = 70 \)
C. \( P = 50, Q = 50 \)
D. \( P = 60, Q = 40 \)
Correct Answer
A
Correct Option:
\( P = 40, Q = 60 \)

About This Question

This is Post Utme Greenfield University 2024 Economics Question 8. It is one of the objective questions from the 2024 Post Utme Greenfield University Economics examination.

View More Post Utme Greenfield University 2024 Economics Questions More Post Utme Greenfield University Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support