Waec Model Questions Vol1 2023 Economics Question 3

Practice objective / multiple choice question 3 from the 2023 Waec Model Questions Vol1 Economics examination.

Waec Model Questions Vol1 2023 Economics Objective / Multiple Choice Hard Difficulty
Question 3 WAEC_MODEL_QUESTIONS_VOL1 • 2023 • ECONOMICS • objective

A farmer has 120 hectares of land that can be planted with either maize or soybeans. Each hectare of maize requires 2 labor‑days and yields a profit of ₦150,000. Each hectare of soybeans requires 3 labor‑days and yields a profit of ₦200,000. The farmer has at most 260 labor‑days available and must plant at least 30 hectares of soybeans to meet a market contract. How many hectares of each crop should be planted to maximise total profit, and what is the maximum profit?

Answer Options

Correct Answer A. 85 hectares of maize, 30 hectares of soybeans; maximum profit ₦18,750,000
B. 85 hectares of maize, 35 hectares of soybeans; maximum profit ₦19,750,000
C. 80 hectares of maize, 30 hectares of soybeans; maximum profit ₦18,000,000
D. 90 hectares of maize, 30 hectares of soybeans; maximum profit ₦19,500,000
Correct Answer
A
Correct Option:
85 hectares of maize, 30 hectares of soybeans; maximum profit ₦18,750,000

About This Question

This is Waec Model Questions Vol1 2023 Economics Question 3. It is one of the objective questions from the 2023 Waec Model Questions Vol1 Economics examination.

Difficulty level: Hard .

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