Neco 2022 Agricultural Science Question 24
Practice objective / multiple choice question 24 from the 2022 Neco Agricultural Science examination.
A farmer cultivates maize on 5\,ha. Fixed costs are ₦150,000 per season and variable costs are ₦30,000 per ha. Yield per ha (in tonnes) depends on the amount of nitrogen fertilizer applied (\(N\) kg ha\(^{-1}\)) according to \(Y = 2 + 0.07N - 0.0002N^{2}\). The market price of maize is ₦45,000 per tonne. Fertiliser costs ₦200 per kg N. If total revenue exceeds ₦500,000, a tax of 10 % is levied on the amount above ₦500,000. Determine the amount of nitrogen \(N\) (kg ha\(^{-1}\)) that maximises net profit and compute the maximum net profit (in ₦).
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About This Question
This is Neco 2022 Agricultural Science Question 24. It is one of the objective questions from the 2022 Neco Agricultural Science examination.
Difficulty level: Hard .
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