Post Utme Lead City University 2017 Economics Question 27
Practice objective / multiple choice question 27 from the 2017 Post Utme Lead City University Economics examination.
A farmer produces wheat and maize on a 100-hectare farm. The marginal product of wheat is 20 tons per hectare, and the marginal product of maize is 15 tons per hectare. If the farmer's opportunity \cost of producing wheat is $10 per ton and the opportunity \cost of producing maize is $8 per ton, what is the farmer's optimal allocation of land between wheat and maize?
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About This Question
This is Post Utme Lead City University 2017 Economics Question 27. It is one of the objective questions from the 2017 Post Utme Lead City University Economics examination.
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