Post Utme Osustech 2017 Economics Question 11

Practice objective / multiple choice question 11 from the 2017 Post Utme Osustech Economics examination.

Post Utme Osustech 2017 Economics Objective / Multiple Choice
Question 11 POST_UTME_OSUSTECH • 2017 • ECONOMICS • objective

A firm operating in a perfectly competitive market has a \cost function given by ( C(q) = 2q^2 + 5q + 10 ). If the market price is \( P = 10 \), and the firm's revenue function is ( R(q) = 10q ), what is the firm's profit-maximizing output level?

Answer Options

A. \( q = 1 \)
Correct Answer B. \( q = 2 \)
C. \( q = 3 \)
D. \( q = 4 \)
Correct Answer
B
Correct Option:
\( q = 2 \)

About This Question

This is Post Utme Osustech 2017 Economics Question 11. It is one of the objective questions from the 2017 Post Utme Osustech Economics examination.

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