Neco 2022 Agricultural Science Question 36
Practice objective / multiple choice question 36 from the 2022 Neco Agricultural Science examination.
A farmer grows maize and incurs a fixed overhead cost of ₦150,000 per season. The variable cost is ₦30,000 per ton of maize produced. He sells the maize at a market price of \(P\) Naira per ton and pays a marketing commission of 5 % on the gross sales. If he expects to produce 8 tons, what is the minimum market price per ton \(P\) (rounded to the nearest Naira) that will give him a net profit of at least ₦200,000?
Answer Options
About This Question
This is Neco 2022 Agricultural Science Question 36. It is one of the objective questions from the 2022 Neco Agricultural Science examination.
Difficulty level: Hard .
Master the Exam!
You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.