Gce Model Questions Vol1 2018 Agricultural Science Question 16
Practice objective / multiple choice question 16 from the 2018 Gce Model Questions Vol1 Agricultural Science examination.
A farmer grows maize and faces the following conditions: fixed costs are \(\text{₦}200{,}000\), variable cost is \(\text{₦}30{,}000\) per ton produced, and the market price per ton follows the linear demand function \(P = 150{,}000 - 5{,}000 Q\) where \(Q\) is the quantity in tons. The government provides a subsidy of \(\text{₦}10{,}000\) per ton for the first 10 tons sold, with no subsidy thereafter. Determine the quantity of maize (in tons) that maximises the farmer's profit.
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About This Question
This is Gce Model Questions Vol1 2018 Agricultural Science Question 16. It is one of the objective questions from the 2018 Gce Model Questions Vol1 Agricultural Science examination.
Difficulty level: Hard .
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