Waec Model Questions Vol1 2022 Economics Question 39

Practice objective / multiple choice question 39 from the 2022 Waec Model Questions Vol1 Economics examination.

Waec Model Questions Vol1 2022 Economics Objective / Multiple Choice Medium Difficulty
Question 39 WAEC_MODEL_QUESTIONS_VOL1 • 2022 • ECONOMICS • objective

A monopolist faces the linear demand curve P = 200 - 4Q and has a constant marginal cost of ₦20. At the profit‑maximising price the monopolist considers raising the price by 10 %. Determine whether total revenue will increase or decrease, and by what percentage (to one decimal place).

Answer Options

A. Decrease by 1.8%
B. Increase by 2.1%
C. Decrease by 5.2%
Correct Answer D. Decrease by 3.4%
Correct Answer
D
Correct Option:
Decrease by 3.4%

About This Question

This is Waec Model Questions Vol1 2022 Economics Question 39. It is one of the objective questions from the 2022 Waec Model Questions Vol1 Economics examination.

Difficulty level: Medium .

View More Waec Model Questions Vol1 2022 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