Neco 2019 Agricultural Science Question 29
Practice objective / multiple choice question 29 from the 2019 Neco Agricultural Science examination.
The market for a certain crop is described by the linear demand function \(Q_d = 200 - 2P\) and the linear supply function \(Q_s = 20 + P\), where \(Q\) is quantity (in thousand tonnes) and \(P\) is price (in ₦ per tonne). The government imposes a per‑unit tax of \(10\) ₦ on producers. Determine the equilibrium price paid by consumers (in ₦) and the equilibrium quantity (in thousand tonnes) after the tax, and compute the total tax revenue (in ₦ thousand).
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About This Question
This is Neco 2019 Agricultural Science Question 29. It is one of the objective questions from the 2019 Neco Agricultural Science examination.
Difficulty level: Hard .
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