Neco 2017 Agricultural Science Question 28

Practice objective / multiple choice question 28 from the 2017 Neco Agricultural Science examination.

Neco 2017 Agricultural Science Objective / Multiple Choice Medium Difficulty
Question 28 NECO • 2017 • AGRICULTURAL_SCIENCE • objective

A farmer cultivates maize on 5 ha. Fixed costs are ₦30 000 per ha for land rent and ₦5 000 per ha for equipment depreciation. Variable cost is ₦0.8 per kg of maize produced. Expected yield without fertilizer is 2.5 t ha\^{-1}. Applying 100 kg N ha\^{-1} costs ₦12 000 and raises yield by 0.4 t ha\^{-1}. The market price of maize is \(p\) Naira per kg. Determine the minimum price \(p\) (to the nearest Naira) at which applying the fertilizer gives a higher profit than not applying it, and compute the corresponding profit for the whole 5 ha farm at that price.

Answer Options

Correct Answer A. Minimum price = 31 Naira/kg; total profit with fertilizer ≈ 202,900 Naira (vs 202,500 Naira without)
B. Minimum price = 30 Naira\/kg; total profit with fertilizer ≈ 191,900 Naira (vs 202,500 Naira without)
C. Minimum price = 32 Naira\/kg; total profit with fertilizer ≈ 214,900 Naira (vs 202,500 Naira without)
D. Minimum price = 29 Naira\/kg; total profit with fertilizer ≈ 179,900 Naira (vs 202,500 Naira without)
Correct Answer
A
Correct Option:
Minimum price = 31 Naira/kg; total profit with fertilizer ≈ 202,900 Naira (vs 202,500 Naira without)

About This Question

This is Neco 2017 Agricultural Science Question 28. It is one of the objective questions from the 2017 Neco Agricultural Science examination.

Difficulty level: Medium .

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