Post Utme Joseph Ayo Babalola University 2024 Economics Question 19

Practice objective / multiple choice question 19 from the 2024 Post Utme Joseph Ayo Babalola University Economics examination.

Post Utme Joseph Ayo Babalola University 2024 Economics Objective / Multiple Choice
Question 19 POST_UTME_JOSEPH_AYO_BABALOLA_UNIVERSITY • 2024 • ECONOMICS • objective

A firm faces a demand curve given by Q = 100 - 2P. If the firm's marginal \cost is MC = ₦50, calculate the firm's optimal price and quantity.

Answer Options

A. P = ₦40, Q = 60
B. P = ₦30, Q = 70
Correct Answer C. P = ₦20, Q = 80
D. P = ₦10, Q = 90
Correct Answer
C
Correct Option:
P = ₦20, Q = 80

About This Question

This is Post Utme Joseph Ayo Babalola University 2024 Economics Question 19. It is one of the objective questions from the 2024 Post Utme Joseph Ayo Babalola University Economics examination.

View More Post Utme Joseph Ayo Babalola University 2024 Economics Questions More Post Utme Joseph Ayo Babalola University Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support