Post Utme Redeemers University 2018 Economics Question 14

Practice objective / multiple choice question 14 from the 2018 Post Utme Redeemers University Economics examination.

Post Utme Redeemers University 2018 Economics Objective / Multiple Choice

Question 14 POST_UTME_REDEEMERS_UNIVERSITY • 2018 • ECONOMICS • objective

A firm's revenue function is given by R = 100Q - 2Q^2, where R is the revenue and Q is the quantity sold. Find the marginal revenue and the elasticity of demand.

Answer Options

Correct Answer A. MR = 100 - 4Q, ED = -1

B. MR = 100 - 2Q, ED = -2

C. MR = 100 - Q, ED = -3

D. MR = 100 + Q, ED = 1

Correct Answer

Correct Option:

MR = 100 - 4Q, ED = -1

About This Question

This is Post Utme Redeemers University 2018 Economics Question 14. It is one of the objective questions from the 2018 Post Utme Redeemers University Economics examination.

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