Post Utme Nile University 2021 Economics Question 8

Practice objective / multiple choice question 8 from the 2021 Post Utme Nile University Economics examination.

Post Utme Nile University 2021 Economics Objective / Multiple Choice
Question 8 POST_UTME_NILE_UNIVERSITY • 2021 • ECONOMICS • objective

A firm's demand function is given by Q = 100 - 2P, where Q is quantity demanded and P is price. If the firm's marginal revenue is ₦50, what is the firm's optimal price?

Answer Options

A. ₦20
B. ₦30
Correct Answer C. ₦40
D. ₦50
Correct Answer
C
Correct Option:
₦40

About This Question

This is Post Utme Nile University 2021 Economics Question 8. It is one of the objective questions from the 2021 Post Utme Nile University Economics examination.

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