Post Utme Rhema University 2022 Economics Question 17

Practice objective / multiple choice question 17 from the 2022 Post Utme Rhema University Economics examination.

Post Utme Rhema University 2022 Economics Objective / Multiple Choice

Question 17 POST_UTME_RHEMA_UNIVERSITY • 2022 • ECONOMICS • objective

A monopolistically competitive firm faces a demand curve given by Q = 100 - 2P. If the firm's marginal revenue is MR = 50 - 2Q, find the firm's equilibrium price and quantity.

Answer Options

A. P = 40, Q = 30

B. P = 45, Q = 25

Correct Answer C. P = 50, Q = 20

D. P = 55, Q = 15

Correct Answer

Correct Option:

P = 50, Q = 20

About This Question

This is Post Utme Rhema University 2022 Economics Question 17. It is one of the objective questions from the 2022 Post Utme Rhema University Economics examination.

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