Gce Model Questions Vol1 2018 Economics Question 1
Practice objective / multiple choice question 1 from the 2018 Gce Model Questions Vol1 Economics examination.
A firm's total cost function is \(TC = 0.02Q^{3} - 0.3Q^{2} + 15Q + 200\), where \(Q\) is output (units). The market demand for its product is \(P = 120 - 0.5Q\). Determine the integer level of output that maximises the firm's profit.
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About This Question
This is Gce Model Questions Vol1 2018 Economics Question 1. It is one of the objective questions from the 2018 Gce Model Questions Vol1 Economics examination.
Difficulty level: Hard .
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