Neco 2021 Economics Question 17

Practice objective / multiple choice question 17 from the 2021 Neco Economics examination.

Neco 2021 Economics Objective / Multiple Choice Medium Difficulty
Question 17 NECO • 2021 • ECONOMICS • objective

The firm's total cost (in naira) for producing \(Q\) units is \(TC = 1000 + 10Q\). The market demand is linear and given by the price‑quantity relation \(P = 200 - 0.5Q\). Determine the output level that maximizes profit and state the maximum profit.

Answer Options

A. Output = 200 units; Maximum profit = \\(\\text{₦}17{,}000\\).
B. Output = 95 units; Maximum profit = \\(\\text{₦}12{,}538\\).
Correct Answer C. Output = 190 units; Maximum profit = \(\text{₦}17{,}050\).
D. Output = 190 units; Maximum profit = \\(\\text{₦}18{,}050\\).
Correct Answer
C
Correct Option:
Output = 190 units; Maximum profit = \(\text{₦}17{,}050\).

About This Question

This is Neco 2021 Economics Question 17. It is one of the objective questions from the 2021 Neco Economics examination.

Difficulty level: Medium .

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