Waec Model Questions Vol1 2020 Economics Question 18

Practice objective / multiple choice question 18 from the 2020 Waec Model Questions Vol1 Economics examination.

Waec Model Questions Vol1 2020 Economics Objective / Multiple Choice Medium Difficulty
Question 18 WAEC_MODEL_QUESTIONS_VOL1 • 2020 • ECONOMICS • objective

A monopolist faces the linear demand curve P = 200 - 0.5Q, where P is price in Naira and Q is output in thousand units. Its total cost function is TC = 20Q + 0.02Q² (thousand Naira). Determine the profit‑maximising output (in thousand units) and the corresponding price. Give your answer rounded to the nearest whole unit.

Answer Options

Correct Answer A. Quantity ≈ 173 thousand units; Price ≈ 113 Naira
B. Quantity ≈ 160 thousand units; Price ≈ 120 Naira
C. Quantity ≈ 150 thousand units; Price ≈ 130 Naira
D. Quantity ≈ 180 thousand units; Price ≈ 105 Naira
Correct Answer
A
Correct Option:
Quantity ≈ 173 thousand units; Price ≈ 113 Naira

About This Question

This is Waec Model Questions Vol1 2020 Economics Question 18. It is one of the objective questions from the 2020 Waec Model Questions Vol1 Economics examination.

Difficulty level: Medium .

View More Waec Model Questions Vol1 2020 Economics Questions More Waec Model Questions Vol1 Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support