Waec Model Questions Vol1 2018 Economics Question 42

Practice objective / multiple choice question 42 from the 2018 Waec Model Questions Vol1 Economics examination.

Waec Model Questions Vol1 2018 Economics Objective / Multiple Choice Medium Difficulty
Question 42 WAEC_MODEL_QUESTIONS_VOL1 • 2018 • ECONOMICS • objective

A firm's total cost (in thousand Naira) is given by \(TC = 4Q + 0.5Q^{2}\), where \(Q\) is output in units. The market demand for its product is \(P = 100 - Q\) (Naira per unit). Determine the output level that maximizes profit and compute the maximum profit (in thousand Naira).

Answer Options

A. Output = 30 units; Maximum profit = ₦1,440,000
B. Output = 36 units; Maximum profit = ₦1,728,000
C. Output = 28 units; Maximum profit = ₦1,344,000
Correct Answer D. Output = 32 units; Maximum profit = ₦1,536,000
Correct Answer
D
Correct Option:
Output = 32 units; Maximum profit = ₦1,536,000

About This Question

This is Waec Model Questions Vol1 2018 Economics Question 42. It is one of the objective questions from the 2018 Waec Model Questions Vol1 Economics examination.

Difficulty level: Medium .

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