Gce Model Questions Vol1 2021 Agricultural Science Question 3
Practice objective / multiple choice question 3 from the 2021 Gce Model Questions Vol1 Agricultural Science examination.
A wheat farmer incurs fixed costs of \(\₦120{,}000\) per season and a variable cost of \(\₦30{,}000\) per ton of wheat produced. The market price is \(\₦45{,}000\) per ton. The government offers a per‑ton subsidy of \(\₦5{,}000\) that is paid only if the farmer's output exceeds 8 tons. The farmer expects to produce between 6 and 12 tons. Assuming the farmer can choose any whole‑ton output in this range, at what output level is profit maximised and what is the maximum profit (in \(\₦\))?
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About This Question
This is Gce Model Questions Vol1 2021 Agricultural Science Question 3. It is one of the objective questions from the 2021 Gce Model Questions Vol1 Agricultural Science examination.
Difficulty level: Hard .
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