Gce Model Questions Vol1 2018 Economics Question 40
Practice objective / multiple choice question 40 from the 2018 Gce Model Questions Vol1 Economics examination.
A firm faces the inverse demand function \(P = 120 - 0.5Q\) and total cost function \(TC = 0.02Q^{3} - 0.3Q^{2} + 10Q + 50\), where \(Q\) is output. Determine the output level that maximises profit. Give your answer rounded to the nearest whole unit.
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About This Question
This is Gce Model Questions Vol1 2018 Economics Question 40. It is one of the objective questions from the 2018 Gce Model Questions Vol1 Economics examination.
Difficulty level: Medium .
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