Post Utme Lasu 2017 Economics Question 34

Practice objective / multiple choice question 34 from the 2017 Post Utme Lasu Economics examination.

Post Utme Lasu 2017 Economics Objective / Multiple Choice
Question 34 POST_UTME_LASU • 2017 • ECONOMICS • objective
Post Utme Lasu 2017 Economics Question 34 diagram

A firm in Nigeria is producing a product with a demand curve given by Q = 100 - 2P and a \cost function C(Q) = 2Q^2 + 10Q. What is the profit-maximizing price and quantity of the product?

Answer Options

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

About This Question

This is Post Utme Lasu 2017 Economics Question 34. It is one of the objective questions from the 2017 Post Utme Lasu Economics examination.

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