Post Utme Summit University 2021 Economics Question 4

Practice objective / multiple choice question 4 from the 2021 Post Utme Summit University Economics examination.

Post Utme Summit University 2021 Economics Objective / Multiple Choice
Question 4 POST_UTME_SUMMIT_UNIVERSITY • 2021 • ECONOMICS • objective

A firm's demand function is given by Q = 100 - 2P. If the firm's marginal revenue function is MR = 200 - 2Q, what is the firm's profit-maximizing price and quantity?

Answer Options

Correct Answer A. \( P = 30, Q = 35 \)
B. \( P = 25, Q = 40 \)
C. \( P = 20, Q = 45 \)
D. \( P = 15, Q = 50 \)
Correct Answer
A
Correct Option:
\( P = 30, Q = 35 \)

About This Question

This is Post Utme Summit University 2021 Economics Question 4. It is one of the objective questions from the 2021 Post Utme Summit University Economics examination.

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