Post Utme Ims U 2021 Economics Question 10

Practice objective / multiple choice question 10 from the 2021 Post Utme Ims U Economics examination.

Post Utme Ims U 2021 Economics Objective / Multiple Choice
Question 10 POST_UTME_IMS_U • 2021 • ECONOMICS • objective

A firm's demand function for a product is given by Q = 100 - 2P. If the firm's marginal revenue function 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
C. P = ₦100, Q = 0
D. P = ₦200, Q = 50
Correct Answer
B
Correct Option:
P = ₦75, Q = 12

About This Question

This is Post Utme Ims U 2021 Economics Question 10. It is one of the objective questions from the 2021 Post Utme Ims U Economics examination.

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