Neco Model Questions Vol1 2020 Economics Question 27
Practice objective / multiple choice question 27 from the 2020 Neco Model Questions Vol1 Economics examination.
A firm produces widgets. Its total cost (in thousand Naira) is given by \(TC = 0.5Q^{2} + 20Q + 100\), where \(Q\) is the quantity produced. The market price per widget is \(\text{₦}120{,}000\) and the government imposes a per‑unit tax of \(\text{₦}20{,}000\). Determine the output level that maximizes profit after the tax and compute the maximum profit (in thousand Naira).
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About This Question
This is Neco Model Questions Vol1 2020 Economics Question 27. It is one of the objective questions from the 2020 Neco Model Questions Vol1 Economics examination.
Difficulty level: Hard .
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