Neco 2021 Economics Question 6
Practice objective / multiple choice question 6 from the 2021 Neco Economics examination.
A firm's total cost function is \(TC = 5000 + 20Q + 0.05Q^{2}\) where \(Q\) is output in units. The market demand for its product is given by \(P = 120 - 0.1Q\). Determine the output level that maximises profit and state the maximum profit (give the profit as an exact fraction).
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About This Question
This is Neco 2021 Economics Question 6. It is one of the objective questions from the 2021 Neco Economics examination.
Difficulty level: Medium .
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