Neco 2017 Economics Question 36

Practice objective / multiple choice question 36 from the 2017 Neco Economics examination.

Neco 2017 Economics Objective / Multiple Choice Medium Difficulty
Question 36 NECO • 2017 • ECONOMICS • objective

Given the total cost function \( TC = 0.5Q^{2} + 20Q + 150 \) and the market demand curve \( P = 120 - 0.5Q \), determine the output level that maximizes profit and calculate the maximum profit.

Answer Options

A. Output = 45 units; Maximum profit = \u20A62250
B. Output = 60 units; Maximum profit = \u20A62600
Correct Answer C. Output = 50 units; Maximum profit = \u20A62350
D. Output = 40 units; Maximum profit = \u20A62210
Correct Answer
C
Correct Option:
Output = 50 units; Maximum profit = \u20A62350

About This Question

This is Neco 2017 Economics Question 36. It is one of the objective questions from the 2017 Neco Economics examination.

Difficulty level: Medium .

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