Post Utme Oau 2022 Economics Question 30

Practice objective / multiple choice question 30 from the 2022 Post Utme Oau Economics examination.

Post Utme Oau 2022 Economics Objective / Multiple Choice

Question 30 POST_UTME_OAU • 2022 • ECONOMICS • objective

A firm's demand function is given by Q = 100 - 2P and its supply function is given by Q = 20 + 3P. If the firm's fixed \cost is ₦500 and its variable \cost is ₦10 per unit, what is the firm's profit-maximizing price and quantity?

A. P = 20, Q = 40

Correct Answer B. P = 30, Q = 50

C. P = 40, Q = 60

D. P = 50, Q = 70

Correct Answer

Correct Option:

P = 30, Q = 50

This is Post Utme Oau 2022 Economics Question 30. It is one of the objective questions from the 2022 Post Utme Oau Economics examination.

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