Post Utme Summit University 2019 Economics Question 3

Practice objective / multiple choice question 3 from the 2019 Post Utme Summit University Economics examination.

Post Utme Summit University 2019 Economics Objective / Multiple Choice

Question 3 POST_UTME_SUMMIT_UNIVERSITY • 2019 • ECONOMICS • objective

A monopolistically competitive firm faces a demand curve given by Q = 100 - 2P. If the firm's marginal \cost (MC) is 10, what is the optimal price (P) and quantity (Q) that the firm should produce?

Answer Options

Correct Answer A. P = 40, Q = 60

B. P = 50, Q = 50

C. P = 60, Q = 40

D. P = 70, Q = 30

Correct Answer

Correct Option:

P = 40, Q = 60

About This Question

This is Post Utme Summit University 2019 Economics Question 3. It is one of the objective questions from the 2019 Post Utme Summit University Economics examination.

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