Post Utme Lasu 2022 Economics Question 40

Practice objective / multiple choice question 40 from the 2022 Post Utme Lasu Economics examination.

Post Utme Lasu 2022 Economics Objective / Multiple Choice

Question 40 POST_UTME_LASU • 2022 • ECONOMICS • objective

A firm is facing a demand curve given by Qd = 100 - 2P and a supply curve given by Qs = 2P. If the firm's goal is to maximize profit, what is the optimal price \( P* \) and quantity \( Q* \) that the firm should produce?

Correct Answer A. P* = 50, Q* = 25

B. P* = 75, Q* = 50

C. P* = 25, Q* = 50

D. P* = 50, Q* = 100

Correct Answer

Correct Option:

P* = 50, Q* = 25

This is Post Utme Lasu 2022 Economics Question 40. It is one of the objective questions from the 2022 Post Utme Lasu Economics examination.

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