Post Utme Skyline University 2021 Economics Question 11

Practice objective / multiple choice question 11 from the 2021 Post Utme Skyline University Economics examination.

Post Utme Skyline University 2021 Economics Objective / Multiple Choice
Question 11 POST_UTME_SKYLINE_UNIVERSITY • 2021 • ECONOMICS • objective

Consider a firm operating in a perfectly competitive market with a cons\tant returns to scale production function. If the firm's revenue function is given by R(x) = 100x - 2x^2 and the price of the good is P = 10, calculate the firm's marginal revenue (MR) and marginal \cost (MC) at the profit-maximizing output level.

Answer Options

A. \( MR = 100 - 4x \)
Correct Answer B. \( MR = 100 - 2x \)
C. \( MC = 100 - 4x \)
D. \( MC = 100 - 2x \)
Correct Answer
B
Correct Option:
\( MR = 100 - 2x \)

About This Question

This is Post Utme Skyline University 2021 Economics Question 11. It is one of the objective questions from the 2021 Post Utme Skyline University Economics examination.

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