Neco Model Questions Vol1 2018 Economics Question 26
Practice objective / multiple choice question 26 from the 2018 Neco Model Questions Vol1 Economics examination.
A manufacturing firm has total cost function \(TC = 0.02Q^{3} - 0.3Q^{2} + 12Q + 50\), where \(Q\) is the quantity of output produced. The market demand for its product is given by \(P = 120 - 0.5Q\). Determine the profit the firm earns at the output level that maximises profit. Round your answer to the nearest Naira.
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About This Question
This is Neco Model Questions Vol1 2018 Economics Question 26. It is one of the objective questions from the 2018 Neco Model Questions Vol1 Economics examination.
Difficulty level: Hard .
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