Post Utme Ksu 2023 Economics Question 1

Practice objective / multiple choice question 1 from the 2023 Post Utme Ksu Economics examination.

Post Utme Ksu 2023 Economics Objective / Multiple Choice
Question 1 POST_UTME_KSU • 2023 • ECONOMICS • objective
Post Utme Ksu 2023 Economics Question 1 diagram

Consider a firm operating in a perfectly competitive market with a demand curve given by Qd = 100 - 2P and a supply curve given by Qs = 2P - 10. If the firm's marginal \cost (MC) is 5, what is the profit-maximizing price and quantity?

Answer Options

Correct Answer A. \( P = 20, Q = 45 \)
B. \( P = 25, Q = 35 \)
C. \( P = 30, Q = 25 \)
D. \( P = 35, Q = 15 \)
Correct Answer
A
Correct Option:
\( P = 20, Q = 45 \)

About This Question

This is Post Utme Ksu 2023 Economics Question 1. It is one of the objective questions from the 2023 Post Utme Ksu Economics examination.

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