Neco Model Questions Vol1 2025 Economics Question 38
Practice objective / multiple choice question 38 from the 2025 Neco Model Questions Vol1 Economics examination.
A bus company operates a route with a daily fixed cost of \(\text{₦}10{,}000\) and a variable cost of \(\text{₦}50\) per passenger. The daily passenger demand (in persons) is described by \( Q = 1000 - 5P \), where \( P \) is the fare in naira. The bus has a capacity of \(200\) seats. Determine the fare that maximises the company's daily profit and state the maximum profit (in naira).
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About This Question
This is Neco Model Questions Vol1 2025 Economics Question 38. It is one of the objective questions from the 2025 Neco Model Questions Vol1 Economics examination.
Difficulty level: Hard .
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