Post Utme Unilorin 2018 Economics Question 2

Practice objective / multiple choice question 2 from the 2018 Post Utme Unilorin Economics examination.

Post Utme Unilorin 2018 Economics Objective / Multiple Choice
Question 2 POST_UTME_UNILORIN • 2018 • ECONOMICS • objective

A firm's demand function is given by \( Q = 100 - 2P \), where ( Q ) is the quantity demanded and ( P ) is the price. If the firm's marginal revenue function is \( MR = 200 - 4P \), find the price at which the firm will maximize its revenue.

Answer Options

A. \( P = ₦50 \)
Correct Answer B. \( P = ₦75 \)
C. \( P = ₦100 \)
D. \( P = ₦125 \)
Correct Answer
B
Correct Option:
\( P = ₦75 \)

About This Question

This is Post Utme Unilorin 2018 Economics Question 2. It is one of the objective questions from the 2018 Post Utme Unilorin Economics examination.

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support