Neco 2019 Economics Question 32

Practice objective / multiple choice question 32 from the 2019 Neco Economics examination.

Neco 2019 Economics Objective / Multiple Choice Medium Difficulty
Question 32 NECO • 2019 • ECONOMICS • objective

Given a monopolistically competitive firm with demand function \(P = 200 - 4Q\) and total cost function \(TC = 20Q + 0.5Q^{2}\), find the profit‑maximising output level, the corresponding price, and the economic profit.

Answer Options

Correct Answer A. Output Q = 20 units, price P = ₦120, profit = ₦1800
B. Output Q = 15 units, price P = ₦140, profit = ₦1100
C. Output Q = 25 units, price P = ₦100, profit = ₦1500
D. Output Q = 18 units, price P = ₦128, profit = ₦1300
Correct Answer
A
Correct Option:
Output Q = 20 units, price P = ₦120, profit = ₦1800

About This Question

This is Neco 2019 Economics Question 32. It is one of the objective questions from the 2019 Neco Economics examination.

Difficulty level: Medium .

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