Gce Model Questions Vol1 2024 Economics Question 17
Practice objective / multiple choice question 17 from the 2024 Gce Model Questions Vol1 Economics examination.
A manufacturing firm can invest in high‑tech plants at a capital cost of \(₦20\) million each, each plant producing \(5{,}000\) units per year, and in low‑tech plants at a cost of \(₦8\) million each, each producing \(2{,}000\) units per year. The government offers a subsidy equal to \(10\%\) of the capital cost for every high‑tech plant. The firm must produce at least \(120{,}000\) units per year while minimising its net capital outlay after the subsidy. How many high‑tech and low‑tech plants should it build, and what is the minimum net outlay (in millions of naira)?
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About This Question
This is Gce Model Questions Vol1 2024 Economics Question 17. It is one of the objective questions from the 2024 Gce Model Questions Vol1 Economics examination.
Difficulty level: Hard .
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