Post Utme Uniport 2018 Economics Question 6
Practice objective / multiple choice question 6 from the 2018 Post Utme Uniport Economics examination.
A firm faces a downward-sloping demand curve and a fixed \cost of ₦100,000. If the price elasticity of demand is -2 and the firm sells 1,000 units at a price of ₦150, the total revenue is ₦150,000. What is the total \cost of producing 1,000 units?
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About This Question
This is Post Utme Uniport 2018 Economics Question 6. It is one of the objective questions from the 2018 Post Utme Uniport Economics examination.
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