Post Utme Rhema University 2024 Economics Question 7

Practice objective / multiple choice question 7 from the 2024 Post Utme Rhema University Economics examination.

Post Utme Rhema University 2024 Economics Objective / Multiple Choice
Question 7 POST_UTME_RHEMA_UNIVERSITY • 2024 • ECONOMICS • objective

A firm's \cost function is given by C(q) = 2q^2 + 10q + 5. If the firm's revenue function is R(q) = 20q^2 - 5q + 10, what is the firm's profit function?

Answer Options

Correct Answer A. P(q) = 18q^2 - 15q + 5
B. P(q) = 18q^2 + 15q + 5
C. P(q) = 18q^2 - 15q - 5
D. P(q) = 18q^2 + 15q - 5
Correct Answer
A
Correct Option:
P(q) = 18q^2 - 15q + 5

About This Question

This is Post Utme Rhema University 2024 Economics Question 7. It is one of the objective questions from the 2024 Post Utme Rhema University Economics examination.

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