Neco 2025 Economics Question 28

Practice objective / multiple choice question 28 from the 2025 Neco Economics examination.

Neco 2025 Economics Objective / Multiple Choice Medium Difficulty
Question 28 NECO • 2025 • ECONOMICS • objective

A firm faces the linear demand curve \( P = 150 - 3Q \) and has total cost function \( TC = 5Q^{2} + 40Q + 200 \). (a) Find the profit‑maximising output and the corresponding price. (b) Calculate the price elasticity of demand at that output and state whether demand is elastic or inelastic. (c) Determine the maximum profit (rounded to two decimal places).

Answer Options

A. 173.45
B. 182.00
Correct Answer C. 178.13
D. 165.78
Correct Answer
C
Correct Option:
178.13

About This Question

This is Neco 2025 Economics Question 28. It is one of the objective questions from the 2025 Neco Economics examination.

Difficulty level: Medium .

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