Neco 2018 Economics Question 33
Practice objective / multiple choice question 33 from the 2018 Neco Economics examination.
The world price of wheat is $0.30 per kg. The exchange rate is ₦410 per $. Nigeria imposes a 15 % ad valorem tariff on wheat imports and a 5 % sales tax on the final consumer price. Compute the effective consumer price per kg in naira and the percentage increase over the original price without any taxes. Give the price to one decimal place and the percentage increase to one decimal place.
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About This Question
This is Neco 2018 Economics Question 33. It is one of the objective questions from the 2018 Neco Economics examination.
Difficulty level: Medium .
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