Neco 2023 Economics Question 36

Practice objective / multiple choice question 36 from the 2023 Neco Economics examination.

Neco 2023 Economics Objective / Multiple Choice Medium Difficulty
Question 36 NECO • 2023 • ECONOMICS • objective

Given a firm's total cost function \( TC = 50 + 5Q + 0.2Q^{2} \), where Q is output, determine the output level at which marginal cost equals average total cost, and state the common cost per unit at that output (rounded to two decimal places).

Answer Options

Correct Answer A. Q = \sqrt{250} \approx 15.81 units; cost per unit = ₦11.32
B. Q = 20 units; cost per unit = ₦10.00
C. Q = \\sqrt{200} \\approx 14.14 units; cost per unit = ₦12.00
D. Q = \\sqrt{300} \\approx 17.32 units; cost per unit = ₦9.50
Correct Answer
A
Correct Option:
Q = \sqrt{250} \approx 15.81 units; cost per unit = ₦11.32

About This Question

This is Neco 2023 Economics Question 36. It is one of the objective questions from the 2023 Neco Economics examination.

Difficulty level: Medium .

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