Neco 2025 Economics Question 18
Practice objective / multiple choice question 18 from the 2025 Neco Economics examination.
An industry faces a total cost function \(TC = 0.04Q^{3} - 0.6Q^{2} + 30Q + 500\), where \(Q\) is the quantity of output.\n\n(a) Determine the output level that minimizes average total cost (ATC).\n(b) If the market price is ₦120 per unit and the firm is a price‑taker, calculate the firm's profit (or loss) at the output found in part (a).
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About This Question
This is Neco 2025 Economics Question 18. It is one of the objective questions from the 2025 Neco Economics examination.
Difficulty level: Hard .
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