Post Utme Ims U 2020 Economics Question 14

Practice objective / multiple choice question 14 from the 2020 Post Utme Ims U Economics examination.

Post Utme Ims U 2020 Economics Objective / Multiple Choice
Question 14 POST_UTME_IMS_U • 2020 • ECONOMICS • objective

A firm's revenue function is given by R = 100P^2. If the firm's price elasticity of demand is 2, what is the firm's optimal price?

Answer Options

A. 10
Correct Answer B. 20
C. 30
D. 40
Correct Answer
B
Correct Option:
20

About This Question

This is Post Utme Ims U 2020 Economics Question 14. It is one of the objective questions from the 2020 Post Utme Ims U Economics examination.

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