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2025 - ECS2601 - ASSESSMENT 3 - QUESTIONS AND ANSWERS - SEMESTER 2

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This document contains multiple assessments with correct answers from students who have already attempted it and scored 90% and higher. Using it correctly ensures the distinction.

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2025 – S1 – ECS2601 – ASSESSMENT 3 – Q&A


QUIZ

Assessment 3
Started on Monday, 5 May 2025,
State Finished
Completed on Monday, 5 May 2025,
Time taken
Marks 40.00/40.00
Grade 100.00 out of 100.00


Question 1
A firm faces the following average revenue (demand) curve:

P = 120 – 0.02Q

where Q is weekly production and P is price, measured in cents per unit. The firm’s
cost function is given by C = 60Q + 25,000. Assume that the firm maximizes profits.

What is the level of Price?




a.
R105

b.
R1.20

c.
R0.90

d.
R60

Feedback
Your answer is correct.

The correct answer is:
R0.90


1

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