Post Utme Ims U 2023 Economics Question 2

Practice objective / multiple choice question 2 from the 2023 Post Utme Ims U Economics examination.

Post Utme Ims U 2023 Economics Objective / Multiple Choice

Question 2 POST_UTME_IMS_U • 2023 • ECONOMICS • objective

A firm faces a demand curve given by Qd = 100 - 2P and a production function given by Q = 2L^2. If the firm's \cost function is C(L) = 10L + 5, determine the profit-maximizing level of output and price.

A. \( L = 5, P = 45 \)

Correct Answer B. \( L = 10, P = 40 \)

C. \( L = 15, P = 35 \)

D. \( L = 20, P = 30 \)

Correct Answer

Correct Option:

\( L = 10, P = 40 \)

This is Post Utme Ims U 2023 Economics Question 2. It is one of the objective questions from the 2023 Post Utme Ims U Economics examination.

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