Post Utme Igbinedion University 2018 Economics Question 40

Practice objective / multiple choice question 40 from the 2018 Post Utme Igbinedion University Economics examination.

Post Utme Igbinedion University 2018 Economics Objective / Multiple Choice

Question 40 POST_UTME_IGBINEDION_UNIVERSITY • 2018 • ECONOMICS • objective

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

Answer Options

A. P = ₦20, Q = 40

Correct Answer B. P = ₦30, Q = 60

C. P = ₦40, Q = 80

D. P = ₦50, Q = 100

Correct Answer

Correct Option:

P = ₦30, Q = 60

About This Question

This is Post Utme Igbinedion University 2018 Economics Question 40. It is one of the objective questions from the 2018 Post Utme Igbinedion University Economics examination.

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