Neco 2019 Agricultural Science Question 2
Practice objective / multiple choice question 2 from the 2019 Neco Agricultural Science examination.
A farmer plans to grow maize. Fixed costs are \(\text{₦}150,000\) and variable cost is \(\text{₦}45,000\) per hectare. Expected yield is \(3.5\) t ha\(^{-1}\). The market price per tonne is expected to be \(\text{₦}120,000\), but there is a \(10\%\) chance that the price will fall to \(\text{₦}90,000\). The farmer can plant either \(2\) ha or \(4\) ha. Which planting area gives the higher expected profit and what is that expected profit?
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About This Question
This is Neco 2019 Agricultural Science Question 2. It is one of the objective questions from the 2019 Neco Agricultural Science examination.
Difficulty level: Hard .
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