Neco Model Questions Vol1 2022 Economics Question 23
Practice objective / multiple choice question 23 from the 2022 Neco Model Questions Vol1 Economics examination.
An automobile manufacturer has total cost (in million Naira) given by \(TC(Q)=0.5Q^{2}+20Q+100\), where \(Q\) is output in thousands of units. The market price of each unit is constant at N80. The government imposes a specific tax of N10 per unit produced. (i) What output level maximises profit after tax? (ii) What is the profit at that output (in million Naira)?
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This is Neco Model Questions Vol1 2022 Economics Question 23. It is one of the objective questions from the 2022 Neco Model Questions Vol1 Economics examination.
Difficulty level: Hard .
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