Neco 2020 Economics Question 26

Practice objective / multiple choice question 26 from the 2020 Neco Economics examination.

Neco 2020 Economics Objective / Multiple Choice Medium Difficulty
Question 26 NECO • 2020 • ECONOMICS • objective

A firm's total cost function is \( TC = 200 + 5Q - 0.02Q^{2} \) (where Q is output). The market demand is given by \( P = 120 - 0.5Q \). Determine the output level that maximizes profit and compute the maximum profit (in Naira).

Answer Options

A. Profit = 7000; Output = 125
B. Profit = 6500; Output = 100
Correct Answer C. Profit = 6688; Output = 120
D. Profit = 6200; Output = 115
Correct Answer
C
Correct Option:
Profit = 6688; Output = 120

About This Question

This is Neco 2020 Economics Question 26. It is one of the objective questions from the 2020 Neco Economics examination.

Difficulty level: Medium .

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