Neco Model Questions Vol1 2024 Economics Question 43
Practice objective / multiple choice question 43 from the 2024 Neco Model Questions Vol1 Economics examination.
A firm has total cost (in thousand naira) \(TC = 0.02Q^{3} - 0.3Q^{2} + 15Q + 200\), where \(Q\) is total output in thousand units. It sells in two separate markets. In market A demand is \(P_{A}=120-0.5Q_{A}\); in market B demand is \(P_{B}=100-0.2Q_{B}\). The firm can price‑discriminate. Determine the profit‑maximising output levels \(Q_{A}\) and \(Q_{B}\) (in thousand units) and the corresponding maximum profit (in naira).
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About This Question
This is Neco Model Questions Vol1 2024 Economics Question 43. It is one of the objective questions from the 2024 Neco Model Questions Vol1 Economics examination.
Difficulty level: Hard .
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