Post Utme Oau 2022 Economics Question 2

Practice objective / multiple choice question 2 from the 2022 Post Utme Oau Economics examination.

Post Utme Oau 2022 Economics Objective / Multiple Choice
Question 2 POST_UTME_OAU • 2022 • ECONOMICS • objective

A monopolist faces a market demand curve given by Qd = 100 - 2P and has a marginal \cost (MC) of 10. If the firm's marginal revenue (MR) is given by MR = 20 - 2P, what is the firm's profit-maximizing quantity and price?

Answer Options

Correct Answer A. \( Q = 20, P = 40 \)
B. \( Q = 30, P = 30 \)
C. \( Q = 40, P = 20 \)
D. \( Q = 50, P = 10 \)
Correct Answer
A
Correct Option:
\( Q = 20, P = 40 \)

About This Question

This is Post Utme Oau 2022 Economics Question 2. It is one of the objective questions from the 2022 Post Utme Oau Economics examination.

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