Post Utme Unilag 2024 Economics Question 23

Practice objective / multiple choice question 23 from the 2024 Post Utme Unilag Economics examination.

Post Utme Unilag 2024 Economics Objective / Multiple Choice
Question 23 POST_UTME_UNILAG • 2024 • ECONOMICS • objective

A monopolist faces a demand curve with a price elasticity of -2. If the firm's marginal revenue (MR) curve is twice its marginal \cost (MC) curve, what is the firm's profit-maximizing level of output?

Answer Options

A. The point where MR = MC
B. The point where P = MC
Correct Answer C. The point where MR = 2MC
D. The point where P = 2MC
Correct Answer
C
Correct Option:
The point where MR = 2MC

About This Question

This is Post Utme Unilag 2024 Economics Question 23. It is one of the objective questions from the 2024 Post Utme Unilag Economics examination.

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