Post Utme Ims U 2018 Economics Question 7

Practice objective / multiple choice question 7 from the 2018 Post Utme Ims U Economics examination.

Post Utme Ims U 2018 Economics Objective / Multiple Choice
Question 7 POST_UTME_IMS_U • 2018 • ECONOMICS • objective

A monopolist faces a demand curve given by Qd = 100 - 2P and has a marginal \cost (MC) of 20. If the firm's objective is to maximize profits, what is the optimal price and quantity?

Answer Options

A. \( P = 40, Q = 30 \)
Correct Answer B. \( P = 50, Q = 25 \)
C. \( P = 60, Q = 20 \)
D. \( P = 70, Q = 15 \)
Correct Answer
B
Correct Option:
\( P = 50, Q = 25 \)

About This Question

This is Post Utme Ims U 2018 Economics Question 7. It is one of the objective questions from the 2018 Post Utme Ims U Economics examination.

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