Post Utme Lead City University 2023 Economics Question 3

Practice objective / multiple choice question 3 from the 2023 Post Utme Lead City University Economics examination.

Post Utme Lead City University 2023 Economics Objective / Multiple Choice
Question 3 POST_UTME_LEAD_CITY_UNIVERSITY • 2023 • ECONOMICS • objective

A monopolist faces a demand curve given by Q = 100 - 2P. The firm's marginal \cost (MC) is given by MC = 10 + 2Q. What is the profit-maximizing price and quantity for the monopolist?

Answer Options

Correct Answer A. \( P = 40, Q = 60 \)
B. \( P = 30, Q = 70 \)
C. \( P = 20, Q = 80 \)
D. \( P = 10, Q = 90 \)
Correct Answer
A
Correct Option:
\( P = 40, Q = 60 \)

About This Question

This is Post Utme Lead City University 2023 Economics Question 3. It is one of the objective questions from the 2023 Post Utme Lead City University Economics examination.

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