Gce Model Questions Vol1 2023 Geography Question 13
Practice objective / multiple choice question 13 from the 2023 Gce Model Questions Vol1 Geography examination.
The demand for a product is given by \(Q = 1200 - 20P\), where \(P\) is the price in £ per unit and \(Q\) is the quantity demanded per month. Fixed costs are £10 000 per month. The variable cost per unit is \(5 + 0.01P\) £. Determine the price \(P\) that maximises monthly profit and state the maximum profit (rounded to the nearest pound).
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About This Question
This is Gce Model Questions Vol1 2023 Geography Question 13. It is one of the objective questions from the 2023 Gce Model Questions Vol1 Geography examination.
Difficulty level: Hard .
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