Gce Model Questions Vol1 2020 Agricultural Science Question 8
Practice objective / multiple choice question 8 from the 2020 Gce Model Questions Vol1 Agricultural Science examination.
A wheat farmer faces the following cost and price functions (\(Q\) in tonnes): Fixed cost = \$12 000 per season; variable cost per tonne = \(150\; -\;0.02Q\); market price per tonne = \(300\; -\;0.1Q\). Determine the output level \(Q\) (to the nearest whole tonne) that maximises profit and state the corresponding maximum profit (to the nearest dollar).
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About This Question
This is Gce Model Questions Vol1 2020 Agricultural Science Question 8. It is one of the objective questions from the 2020 Gce Model Questions Vol1 Agricultural Science examination.
Difficulty level: Hard .
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