Post Utme Unilag 2022 Economics Question 19

Practice objective / multiple choice question 19 from the 2022 Post Utme Unilag Economics examination.

Post Utme Unilag 2022 Economics Objective / Multiple Choice

Question 19 POST_UTME_UNILAG • 2022 • ECONOMICS • objective

A firm's demand function is given by Q = 100 - 2P, where Q is quantity demanded and P is price. If the firm's marginal revenue function is MR = 200 - 4Q, determine the firm's optimal price and quantity.

Answer Options

A. P = 20, Q = 40

Correct Answer B. P = 30, Q = 50

C. P = 40, Q = 60

D. P = 50, Q = 70

Correct Answer

Correct Option:

P = 30, Q = 50

About This Question

This is Post Utme Unilag 2022 Economics Question 19. It is one of the objective questions from the 2022 Post Utme Unilag Economics examination.

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