Post Utme Igbinedion University 2017 Economics Question 21

Practice objective / multiple choice question 21 from the 2017 Post Utme Igbinedion University Economics examination.

Post Utme Igbinedion University 2017 Economics Objective / Multiple Choice

Question 21 POST_UTME_IGBINEDION_UNIVERSITY • 2017 • ECONOMICS • objective

A firm operating under perfect competition faces a market demand curve that can be represented by the equation Q = 100 - 2P. If the firm's marginal revenue (MR) is given by MR = 50 - 2Q, what is the firm's optimal price and quantity?

Answer Options

Correct Answer A. P = 40, Q = 30

B. P = 50, Q = 20

C. P = 60, Q = 10

D. P = 70, Q = 5

Correct Answer

Correct Option:

P = 40, Q = 30

About This Question

This is Post Utme Igbinedion University 2017 Economics Question 21. It is one of the objective questions from the 2017 Post Utme Igbinedion University Economics examination.

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