Post Utme Lautech 2020 Economics Question 30

Practice objective / multiple choice question 30 from the 2020 Post Utme Lautech Economics examination.

Post Utme Lautech 2020 Economics Objective / Multiple Choice

Question 30 POST_UTME_LAUTECH • 2020 • ECONOMICS • objective

A monopoly has a demand function given by \( P = 100 - 2Q \), and a \cost function given by \( C = 20 + 2Q \). What is the monopoly's profit-maximizing output and price?

Answer Options

Correct Answer A. Q = 20, P = ₦80

B. Q = 30, P = ₦60

C. Q = 40, P = ₦40

D. Q = 50, P = ₦20

Correct Answer

Correct Option:

Q = 20, P = ₦80

About This Question

This is Post Utme Lautech 2020 Economics Question 30. It is one of the objective questions from the 2020 Post Utme Lautech Economics examination.

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