Post Utme Redeemers University 2025 Economics Question 16

Practice objective / multiple choice question 16 from the 2025 Post Utme Redeemers University Economics examination.

Post Utme Redeemers University 2025 Economics Objective / Multiple Choice
Question 16 POST_UTME_REDEEMERS_UNIVERSITY • 2025 • ECONOMICS • objective

A monopolistically competitive firm faces a demand curve with a cons\tant elasticity of -2. If the firm's marginal revenue (MR) is given by MR = 100 - 2q, where q is the quantity sold, find the firm's optimal quantity and price.

Answer Options

A. q = 25, p = 75
B. q = 50, p = 50
Correct Answer C. q = 75, p = 37.5
D. q = 100, p = 25
Correct Answer
C
Correct Option:
q = 75, p = 37.5

About This Question

This is Post Utme Redeemers University 2025 Economics Question 16. It is one of the objective questions from the 2025 Post Utme Redeemers University Economics examination.

View More Post Utme Redeemers University 2025 Economics Questions More Post Utme Redeemers University Practice Questions Back to Questions

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