Post Utme Veritas University 2022 Economics Question 7

Practice objective / multiple choice question 7 from the 2022 Post Utme Veritas University Economics examination.

Post Utme Veritas University 2022 Economics Objective / Multiple Choice
Question 7 POST_UTME_VERITAS_UNIVERSITY • 2022 • ECONOMICS • objective

A monopolist faces a market demand curve given by \( Q = 100 - 2P \). The monopolist's marginal \cost curve is given by \( MC = 5 + 2Q \). What is the monopolist's profit-maximizing price and quantity?

Answer Options

A. \( P = 20, Q = 40 \)
Correct Answer B. \( P = 25, Q = 30 \)
C. \( P = 30, Q = 20 \)
D. \( P = 35, Q = 10 \)
Correct Answer
B
Correct Option:
\( P = 25, Q = 30 \)

About This Question

This is Post Utme Veritas University 2022 Economics Question 7. It is one of the objective questions from the 2022 Post Utme Veritas University Economics examination.

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