Post Utme Unilorin 2020 Economics Question 1
Practice objective / multiple choice question 1 from the 2020 Post Utme Unilorin Economics examination.
Consider a perfectly competitive market with two firms, A and B. Firm A has a \cost function C_A(q) = 2q^2 + 10q + 5, while Firm B has a \cost function C_B(q) = 3q^2 + 8q + 2. If the market demand is given by P = 100 - 2q, and the firms produce identical products, what is the socially optimal quantity of output?
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About This Question
This is Post Utme Unilorin 2020 Economics Question 1. It is one of the objective questions from the 2020 Post Utme Unilorin Economics examination.
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