Neco 2018 Economics Question 21
Practice objective / multiple choice question 21 from the 2018 Neco Economics examination.
A farmer cultivates 1 hectare of maize. The fixed cost is ₦150,000 and the variable cost is ₦45,000 per hectare. The expected yield is 5 tonnes per hectare. The farmer wants a profit that is at least \(0.20\) of total cost. The government offers a subsidy that reduces the variable cost by 10\% if the market price per tonne exceeds \(12{,}000\) naira. What is the minimum market price per tonne (in naira) the farmer must obtain to meet the profit target?
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About This Question
This is Neco 2018 Economics Question 21. It is one of the objective questions from the 2018 Neco Economics examination.
Difficulty level: Hard .
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