Post Utme Joseph Ayo Babalola University 2023 Economics Question 33

Practice objective / multiple choice question 33 from the 2023 Post Utme Joseph Ayo Babalola University Economics examination.

Post Utme Joseph Ayo Babalola University 2023 Economics Objective / Multiple Choice
Question 33 POST_UTME_JOSEPH_AYO_BABALOLA_UNIVERSITY • 2023 • ECONOMICS • objective

A monopolist faces a demand curve given by Q = 100 - 2P and a \cost function C(Q) = 2Q^2 + 10Q. Find the profit-maximizing quantity and price, assuming the firm's objective is to maximize profits.

Answer Options

A. Q = 20, P = 40
B. Q = 30, P = 50
Correct Answer C. Q = 40, P = 60
D. Q = 50, P = 70
Correct Answer
C
Correct Option:
Q = 40, P = 60

About This Question

This is Post Utme Joseph Ayo Babalola University 2023 Economics Question 33. It is one of the objective questions from the 2023 Post Utme Joseph Ayo Babalola University Economics examination.

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