Post Utme Unilag 2023 Economics Question 29

Practice objective / multiple choice question 29 from the 2023 Post Utme Unilag Economics examination.

Post Utme Unilag 2023 Economics Objective / Multiple Choice
Question 29 POST_UTME_UNILAG • 2023 • ECONOMICS • objective

A monopolistically competitive firm faces a demand curve given by Q = 100 - 2P. The firm's marginal revenue (MR) function is MR = 50 - 2Q. If the firm's marginal \cost (MC) is MC = 20, what is the profit-maximizing quantity of output?

Answer Options

A. 40
B. 50
Correct Answer C. 60
D. 70
Correct Answer
C
Correct Option:
60

About This Question

This is Post Utme Unilag 2023 Economics Question 29. It is one of the objective questions from the 2023 Post Utme Unilag Economics examination.

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