Waec Model Questions Vol1 2017 Economics Question 27
Practice objective / multiple choice question 27 from the 2017 Waec Model Questions Vol1 Economics examination.
A smartphone firm has fixed costs of N500 million. Its variable cost per unit (in thousands of phones) is given by VC = N1 500 + N0.05Q, where Q is output measured in thousands of phones. Each phone sells for N2 500. Assuming profit is maximised where marginal profit is zero, determine the output level (in units) that maximises profit.
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About This Question
This is Waec Model Questions Vol1 2017 Economics Question 27. It is one of the objective questions from the 2017 Waec Model Questions Vol1 Economics examination.
Difficulty level: Hard .
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