Post Utme Lead City University 2020 Economics Question 18

Practice objective / multiple choice question 18 from the 2020 Post Utme Lead City University Economics examination.

Post Utme Lead City University 2020 Economics Objective / Multiple Choice

Question 18 POST_UTME_LEAD_CITY_UNIVERSITY • 2020 • ECONOMICS • objective

A firm has a total revenue function given by TR = 100Q - 2Q^2. If the firm's total \cost function is TC = 50Q + 10Q^2, calculate the profit-maximizing quantity and price.

Answer Options

A. Q = 10, P = ₦50

Correct Answer B. Q = 20, P = ₦100

C. Q = 30, P = ₦150

D. Q = 40, P = ₦200

Correct Answer

Correct Option:

Q = 20, P = ₦100

About This Question

This is Post Utme Lead City University 2020 Economics Question 18. It is one of the objective questions from the 2020 Post Utme Lead City University Economics examination.

View More Post Utme Lead City University 2020 Economics Questions More Post Utme Lead City University Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows

Chat with Support