Waec Model Questions Vol1 2018 Agricultural Science Question 24
Practice objective / multiple choice question 24 from the 2018 Waec Model Questions Vol1 Agricultural Science examination.
A farmer can produce maize and sell it in a market where the price per kilogram follows the linear demand function P = 300 - 0.02 Q (₦/kg), Q being the total quantity supplied (kg). The variable cost of production is ₦120 per kilogram and fixed costs amount to ₦200,000 per season. Determine the quantity of maize (in kg) that maximizes the farmer's profit and state the maximum profit (in naira).
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About This Question
This is Waec Model Questions Vol1 2018 Agricultural Science Question 24. It is one of the objective questions from the 2018 Waec Model Questions Vol1 Agricultural Science examination.
Difficulty level: Hard .
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