Waec Model Questions Vol1 2025 Economics Question 43

Practice objective / multiple choice question 43 from the 2025 Waec Model Questions Vol1 Economics examination.

Waec Model Questions Vol1 2025 Economics Objective / Multiple Choice Medium Difficulty
Question 43 WAEC_MODEL_QUESTIONS_VOL1 • 2025 • ECONOMICS • objective

A monopolist faces the demand curve P = 120 - 0.5Q, where P is the price in Naira and Q is the quantity in thousand units. The firm's marginal cost is constant at ₦30 per unit. Determine the profit‑maximising output (in thousand units) and price (in Naira). Then calculate the consumer surplus at this equilibrium, expressing the surplus in Naira.

Answer Options

A. Q = 60,000 units; P = ₦90; Consumer surplus = ₦1,800,000
B. Q = 75,000 units; P = ₦82.5; Consumer surplus = ₦2,250,000
Correct Answer C. Q = 90,000 units; P = ₦75; Consumer surplus = ₦2,025,000
D. Q = 120,000 units; P = ₦60; Consumer surplus = ₦3,600,000
Correct Answer
C
Correct Option:
Q = 90,000 units; P = ₦75; Consumer surplus = ₦2,025,000

About This Question

This is Waec Model Questions Vol1 2025 Economics Question 43. It is one of the objective questions from the 2025 Waec Model Questions Vol1 Economics examination.

Difficulty level: Medium .

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