Post Utme Veritas University 2017 Economics Question 3

Practice objective / multiple choice question 3 from the 2017 Post Utme Veritas University Economics examination.

Post Utme Veritas University 2017 Economics Objective / Multiple Choice
Question 3 POST_UTME_VERITAS_UNIVERSITY • 2017 • ECONOMICS • objective

A farmer is considering two alternative crops to plant on her land. Crop A requires an initial investment of ₦100,000 and yields a profit of ₦50,000 per hectare. Crop B requires an initial investment of ₦150,000 and yields a profit of ₦60,000 per hectare. If the farmer has a budget of ₦200,000, how many hectares of each crop should she plant to maximize her profit?

Answer Options

Correct Answer A. ( 2 hectares of Crop A, 1 hectare of Crop B )
B. ( 1 hectare of Crop A, 2 hectares of Crop B )
C. ( 3 hectares of Crop A, 0 hectares of Crop B )
D. ( 0 hectares of Crop A, 3 hectares of Crop B )
Correct Answer
A
Correct Option:
( 2 hectares of Crop A, 1 hectare of Crop B )

About This Question

This is Post Utme Veritas University 2017 Economics Question 3. It is one of the objective questions from the 2017 Post Utme Veritas University Economics examination.

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