Gce Model Questions Vol1 2022 Agricultural Science Question 1

Practice objective / multiple choice question 1 from the 2022 Gce Model Questions Vol1 Agricultural Science examination.

Gce Model Questions Vol1 2022 Agricultural Science Objective / Multiple Choice Hard Difficulty

Question 1 GCE_MODEL_QUESTIONS_VOL1 • 2022 • AGRICULTURAL_SCIENCE • objective

A farmer grows wheat. Fixed costs are ₦150,000 per season and variable cost is ₦30,000 per tonne. Expected yield is 10 tonnes. Market price is ₦45,000 per tonne. The government offers a 10 % subsidy on the market price for the first 5 tonnes sold, after which the price reverts to the market price. Calculate the farmer's profit after the subsidy and state whether this profit exceeds 20 % of the total costs.

Answer Options

A. Profit = 45,000 Naira; No

B. Profit = 15,000 Naira; No

Correct Answer C. Profit = 22,500 Naira; No

D. Profit = 100,000 Naira; Yes

Correct Answer

Correct Option:

Profit = 22,500 Naira; No

About This Question

This is Gce Model Questions Vol1 2022 Agricultural Science Question 1. It is one of the objective questions from the 2022 Gce Model Questions Vol1 Agricultural Science examination.

Difficulty level: Hard .

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