Post Utme Lead City University 2017 Commerce Question 44

Practice objective / multiple choice question 44 from the 2017 Post Utme Lead City University Commerce examination.

Post Utme Lead City University 2017 Commerce Objective / Multiple Choice

Question 44 POST_UTME_LEAD_CITY_UNIVERSITY • 2017 • COMMERCE • objective

A firm is producing a product with the following demand function: Q = 100 - 2P. If the firm's cost function is C(Q) = 20Q + 1000, what is the profit-maximizing price and quantity?

Answer Options

Correct Answer A. P = ₦40, Q = 30 units

B. P = ₦50, Q = 20 units

C. P = ₦60, Q = 10 units

D. P = ₦70, Q = 5 units

Correct Answer

Correct Option:

P = ₦40, Q = 30 units

About This Question

This is Post Utme Lead City University 2017 Commerce Question 44. It is one of the objective questions from the 2017 Post Utme Lead City University Commerce examination.

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