Post Utme Lasu 2021 Economics Question 31

Practice objective / multiple choice question 31 from the 2021 Post Utme Lasu Economics examination.

Post Utme Lasu 2021 Economics Objective / Multiple Choice
Question 31 POST_UTME_LASU • 2021 • ECONOMICS • objective

A monopolist faces a demand curve given by Q = 100 - 2P. The marginal revenue function is MR = 200 - 2Q. If the firm's marginal \cost is 20, what is the optimal price and quantity?

Answer Options

A. P = 50, Q = 25
Correct Answer B. P = 40, Q = 30
C. P = 30, Q = 35
D. P = 20, Q = 40
Correct Answer
B
Correct Option:
P = 40, Q = 30

About This Question

This is Post Utme Lasu 2021 Economics Question 31. It is one of the objective questions from the 2021 Post Utme Lasu Economics examination.

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