Waec Model Questions Vol1 2019 Economics Question 22

Practice objective / multiple choice question 22 from the 2019 Waec Model Questions Vol1 Economics examination.

Waec Model Questions Vol1 2019 Economics Objective / Multiple Choice Hard Difficulty
Question 22 WAEC_MODEL_QUESTIONS_VOL1 • 2019 • ECONOMICS • objective

A farmer has 10 hectares of land and 24 labour‑days available. He can grow maize or soybeans.\n- Maize yields 3 tonnes/ha, market price ₦120 per kg, variable cost ₦200,000 per ha.\n- Soybeans yield 2.5 tonnes/ha, market price ₦150 per kg, variable cost ₦250,000 per ha.\nLabour required: maize 2 days/ha, soybeans 3 days/ha. Fixed costs total ₦300,000. Determine the allocation of hectares to each crop that maximises profit and state the maximum profit.

Answer Options

A. Plant 0 ha of maize and 8 ha of soybeans; maximum profit = ₦900,000
B. Plant 8 ha of maize and 2 ha of soybeans; maximum profit = ₦1,150,000
C. Plant 6 ha of maize and 4 ha of soybeans; maximum profit = ₦1,050,000
Correct Answer D. Plant 10 ha of maize and 0 ha of soybeans; maximum profit = ₦1,300,000
Correct Answer
D
Correct Option:
Plant 10 ha of maize and 0 ha of soybeans; maximum profit = ₦1,300,000

About This Question

This is Waec Model Questions Vol1 2019 Economics Question 22. It is one of the objective questions from the 2019 Waec Model Questions Vol1 Economics examination.

Difficulty level: Hard .

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