Post Utme Ims U 2020 Economics Question 34

Practice objective / multiple choice question 34 from the 2020 Post Utme Ims U Economics examination.

Post Utme Ims U 2020 Economics Objective / Multiple Choice

Question 34 POST_UTME_IMS_U • 2020 • ECONOMICS • objective

A firm's \cost function is given by C(q) = 2q^2 + 10q + 5, where q is the quantity produced. If the firm's revenue function is R(q) = 20q, what is the profit function?

Correct Answer A. P(q) = 18q^2 + 10q + 5

B. P(q) = 18q^2 - 10q + 5

C. P(q) = 18q^2 + 10q - 5

D. P(q) = 18q^2 - 10q - 5

Correct Answer

Correct Option:

P(q) = 18q^2 + 10q + 5

This is Post Utme Ims U 2020 Economics Question 34. It is one of the objective questions from the 2020 Post Utme Ims U Economics examination.

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