Post Utme Ims U 2020 Economics Question 21

Practice objective / multiple choice question 21 from the 2020 Post Utme Ims U Economics examination.

Post Utme Ims U 2020 Economics Objective / Multiple Choice
Question 21 POST_UTME_IMS_U • 2020 • ECONOMICS • objective

A monopolistically competitive firm faces a demand curve with the following equation: Q = 100 - 2P. If the firm's marginal revenue (MR) is given by MR = 200 - 4Q, find the firm's optimal price and quantity.

Answer Options

A. P = 50, Q = 25
Correct Answer B. P = 75, Q = 12.5
C. P = 100, Q = 0
D. P = 25, Q = 50
Correct Answer
B
Correct Option:
P = 75, Q = 12.5

About This Question

This is Post Utme Ims U 2020 Economics Question 21. It is one of the objective questions from the 2020 Post Utme Ims U Economics examination.

View More Post Utme Ims U 2020 Economics Questions More Post Utme Ims U Practice Questions Back to Questions

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