Neco 2020 Agricultural Science Question 16
Practice objective / multiple choice question 16 from the 2020 Neco Agricultural Science examination.
A farmer produces maize. The market price per tonne is given by \( P = 60{,}000 - 2{,}000 Q \) where \(Q\) is the total quantity produced in tonnes. The farmer incurs a fixed cost of \(200{,}000\) Naira and a variable cost of \(10{,}000\) Naira per tonne produced. Determine the quantity \(Q\) (in tonnes) that maximizes profit and state the maximum profit (in Naira).
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About This Question
This is Neco 2020 Agricultural Science Question 16. It is one of the objective questions from the 2020 Neco Agricultural Science examination.
Difficulty level: Hard .
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