Waec Model Questions Vol1 2021 Agricultural Science Question 5
Practice objective / multiple choice question 5 from the 2021 Waec Model Questions Vol1 Agricultural Science examination.
A farmer's total cost function for maize production is TC(Q) = 0.02Q³ - 0.3Q² + 15Q + 200, where Q is output in tonnes. The market price per tonne is given by the linear demand function P = 120 - 0.5Q (Naira per tonne). What output level Q (in tonnes, to one decimal place) maximizes profit, and what is the maximum profit (in Naira, to the nearest naira)?
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About This Question
This is Waec Model Questions Vol1 2021 Agricultural Science Question 5. It is one of the objective questions from the 2021 Waec Model Questions Vol1 Agricultural Science examination.
Difficulty level: Hard .
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