Waec Model Questions Vol1 2024 Economics Question 42
Practice objective / multiple choice question 42 from the 2024 Waec Model Questions Vol1 Economics examination.
The market for a commodity is described by the linear demand function P = 120 - 3Q and the linear supply function P = 30 + 2Q, where P is price in Naira per unit and Q is quantity in thousands of units. The government imposes a specific tax of t Naira per unit on producers. The tax revenue each month is R = t × Q (in thousand Naira). What is the smallest integer value of t (in Naira) that will generate a monthly tax revenue of at least N300,000?
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About This Question
This is Waec Model Questions Vol1 2024 Economics Question 42. It is one of the objective questions from the 2024 Waec Model Questions Vol1 Economics examination.
Difficulty level: Medium .
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