Waec Model Questions Vol1 2023 Economics Question 36
Practice objective / multiple choice question 36 from the 2023 Waec Model Questions Vol1 Economics examination.
A firm faces the linear demand equation P = 120 - 0.5Q (price in Naira, quantity in units). Its fixed cost is N2,000 and the variable cost per unit is N20. Assuming the firm maximises profit by producing the output where marginal revenue equals marginal cost, what is the maximum profit (in Naira) the firm can earn?
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About This Question
This is Waec Model Questions Vol1 2023 Economics Question 36. It is one of the objective questions from the 2023 Waec Model Questions Vol1 Economics examination.
Difficulty level: Medium .
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