Gce Model Questions Vol1 2017 Agricultural Science Question 49
Practice objective / multiple choice question 49 from the 2017 Gce Model Questions Vol1 Agricultural Science examination.
The volume of timber per hectare from a pine stand of age \(t\) years is modelled by \( V(t)=a t^{b}\) where \(a=0.02\) and \(b=2.5\). Timber sells for \$150 per cubic metre, the discount rate is 8 % per annum, and replanting after harvest costs \$500 per hectare. Using the Faustmann formula, determine the rotation age \(T\) (in whole years) that maximises the present net revenue per hectare, and compute the corresponding maximum present net revenue (rounded to the nearest dollar).
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About This Question
This is Gce Model Questions Vol1 2017 Agricultural Science Question 49. It is one of the objective questions from the 2017 Gce Model Questions Vol1 Agricultural Science examination.
Difficulty level: Hard .
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