Neco Model Questions Vol1 2021 Economics Question 32
Practice objective / multiple choice question 32 from the 2021 Neco Model Questions Vol1 Economics examination.
A firm faces a linear demand curve \(P = 500 - 2Q\) where \(P\) is the price per unit (₦) and \(Q\) is output. Variable cost per unit is ₦150 for the first 100 units and ₦120 for each unit beyond 100. Fixed cost is ₦20,000. Determine the output level (in whole units) that yields the maximum profit.
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About This Question
This is Neco Model Questions Vol1 2021 Economics Question 32. It is one of the objective questions from the 2021 Neco Model Questions Vol1 Economics examination.
Difficulty level: Medium .
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