Gce Model Questions Vol1 2020 Agricultural Science Question 31
Practice objective / multiple choice question 31 from the 2020 Gce Model Questions Vol1 Agricultural Science examination.
A farm faces a linear demand curve \(P = 200 - 0.5Q\) (where \(P\) is price in Naira per unit and \(Q\) is quantity). The total cost function is \(TC = 5000 + 20Q + 0.02Q^{2}\). Determine the output level (rounded to the nearest whole unit) that maximises profit and state the maximum profit (rounded to the nearest Naira).
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About This Question
This is Gce Model Questions Vol1 2020 Agricultural Science Question 31. It is one of the objective questions from the 2020 Gce Model Questions Vol1 Agricultural Science examination.
Difficulty level: Hard .
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