Gce Model Questions Vol1 2018 Agricultural Science Question 46
Practice objective / multiple choice question 46 from the 2018 Gce Model Questions Vol1 Agricultural Science examination.
A farm grows maize and incurs a fixed annual cost of N 100 000. The variable cost is N 8 000 per ton of maize produced. The market price per ton of maize is described by the linear demand equation \(P = 30\,000 - 500Q\), where \(Q\) is the quantity produced (ton) and \(P\) is the price (N).\n\n(a) Determine the break‑even output (in tons) at which total revenue equals total cost.\n(b) If the farm actually produces 4 tons more than this break‑even output, calculate the profit earned.
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About This Question
This is Gce Model Questions Vol1 2018 Agricultural Science Question 46. It is one of the objective questions from the 2018 Gce Model Questions Vol1 Agricultural Science examination.
Difficulty level: Medium .
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