Post Utme Lasu 2024 Economics Question 34

Practice objective / multiple choice question 34 from the 2024 Post Utme Lasu Economics examination.

Post Utme Lasu 2024 Economics Objective / Multiple Choice
Question 34 POST_UTME_LASU • 2024 • ECONOMICS • objective

A firm's demand function is given by \( Q = 100 - 2P \), where Q is the quantity demanded and P is the price. If the firm's marginal revenue is \( MR = 20 \), find the profit-maximizing price and quantity.

Answer Options

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

About This Question

This is Post Utme Lasu 2024 Economics Question 34. It is one of the objective questions from the 2024 Post Utme Lasu Economics examination.

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