Post Utme Unilag 2021 Economics Question 28

Practice objective / multiple choice question 28 from the 2021 Post Utme Unilag Economics examination.

Post Utme Unilag 2021 Economics Objective / Multiple Choice
Question 28 POST_UTME_UNILAG • 2021 • ECONOMICS • objective

A farmer in Nigeria produces 100 bags of rice per hectare. If the price of rice is ₦20,000 per bag and the \cost of production is ₦15,000 per bag, what is the farmer's profit per hectare?

Answer Options

A. ₦1,500,000
B. ₦2,000,000
Correct Answer C. ₦2,500,000
D. ₦3,000,000
Correct Answer
C
Correct Option:
₦2,500,000

About This Question

This is Post Utme Unilag 2021 Economics Question 28. It is one of the objective questions from the 2021 Post Utme Unilag Economics examination.

View More Post Utme Unilag 2021 Economics Questions More Post Utme Unilag Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support