Gce Model Questions Vol1 2018 Agricultural Science Question 41
Practice objective / multiple choice question 41 from the 2018 Gce Model Questions Vol1 Agricultural Science examination.
A wheat farmer has fixed costs of ₦150,000 and a variable cost of ₦30,000 per ton. The market demand for wheat is given by \( Q = 500 - 0.01P \), where \( Q \) is the quantity in tons and \( P \) is the market price per ton (in ₦). At what price per ton will the farmer break even (total revenue equals total cost)? Give your answer to the nearest whole naira.
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About This Question
This is Gce Model Questions Vol1 2018 Agricultural Science Question 41. It is one of the objective questions from the 2018 Gce Model Questions Vol1 Agricultural Science examination.
Difficulty level: Hard .
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