Post Utme Igbinedion University 2019 Economics Question 2

Practice objective / multiple choice question 2 from the 2019 Post Utme Igbinedion University Economics examination.

Post Utme Igbinedion University 2019 Economics Objective / Multiple Choice

Question 2 POST_UTME_IGBINEDION_UNIVERSITY • 2019 • 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 firm's equilibrium price and quantity.

Answer Options

Correct Answer A. P = 40, Q = 30

B. P = 50, Q = 25

C. P = 60, Q = 20

D. P = 70, Q = 15

Correct Answer

Correct Option:

P = 40, Q = 30

About This Question

This is Post Utme Igbinedion University 2019 Economics Question 2. It is one of the objective questions from the 2019 Post Utme Igbinedion University Economics examination.

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