Post Utme Ims U 2020 Economics Question 23

Practice objective / multiple choice question 23 from the 2020 Post Utme Ims U Economics examination.

Post Utme Ims U 2020 Economics Objective / Multiple Choice
Question 23 POST_UTME_IMS_U • 2020 • ECONOMICS • objective

A firm's total revenue (TR) is given by the equation TR = 200Q - 2Q^2. If the firm's marginal \cost (MC) is given by MC = 100 - 2Q, find the firm's optimal quantity and price.

Answer Options

A. Q = 10, P = 20
Correct Answer B. Q = 20, P = 15
C. Q = 30, P = 10
D. Q = 40, P = 5
Correct Answer
B
Correct Option:
Q = 20, P = 15

About This Question

This is Post Utme Ims U 2020 Economics Question 23. It is one of the objective questions from the 2020 Post Utme Ims U Economics examination.

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