Post Utme Unilorin 2023 Economics Question 27

Practice objective / multiple choice question 27 from the 2023 Post Utme Unilorin Economics examination.

Post Utme Unilorin 2023 Economics Objective / Multiple Choice
Question 27 POST_UTME_UNILORIN • 2023 • ECONOMICS • objective

A firm's \cost function is given by ( C(q) = 10q + 100 ), where ( q ) is the quantity produced. If the firm's revenue function is given by ( R(q) = 20q ), calculate the firm's profit function.

Answer Options

Correct Answer A. ( pi(q) = 10q + 100 - 20q )
B. ( pi(q) = 10q - 20q + 100 )
C. ( pi(q) = 10q + 100 + 20q )
D. ( pi(q) = 10q - 100 - 20q )
Correct Answer
A
Correct Option:
( pi(q) = 10q + 100 - 20q )

About This Question

This is Post Utme Unilorin 2023 Economics Question 27. It is one of the objective questions from the 2023 Post Utme Unilorin Economics examination.

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