Neco 2023 Agricultural Science Question 30

Practice objective / multiple choice question 30 from the 2023 Neco Agricultural Science examination.

Neco 2023 Agricultural Science Objective / Multiple Choice Hard Difficulty
Question 30 NECO • 2023 • AGRICULTURAL_SCIENCE • objective

The volume growth of a fast‑growing forest species is described by \(V(t)=a t^{2}-b t^{3}\) (m³ ha⁻¹), where \(t\) is age in years, \(a=0.8\) and \(b=0.005\).\n(a) Determine the rotation age that maximizes the mean annual increment (MAI) and compute the maximum MAI.\n(b) Using the Faustmann formula with a discount rate of 8 % per annum, a timber price of \(\text{₦}2,500\) m⁻³ and a regeneration cost of \(\text{₦}500,000\) ha⁻¹, calculate the land expectation value (LEV) for the optimal rotation age.

Answer Options

A. Optimal rotation age = 75 years; maximum MAI = 34 m³ ha⁻¹ yr⁻¹; LEV ≈ \\(\\text{₦}9,500\\) per hectare.
Correct Answer B. Optimal rotation age = 80 years; maximum MAI = 32 m³ ha⁻¹ yr⁻¹; LEV ≈ \(\text{₦}9,800\) per hectare.
C. Optimal rotation age = 85 years; maximum MAI = 30 m³ ha⁻¹ yr⁻¹; LEV ≈ \\(\\text{₦}10,100\\) per hectare.
D. Optimal rotation age = 70 years; maximum MAI = 28 m³ ha⁻¹ yr⁻¹; LEV ≈ \\(\\text{₦}9,200\\) per hectare.
Correct Answer
B
Correct Option:
Optimal rotation age = 80 years; maximum MAI = 32 m³ ha⁻¹ yr⁻¹; LEV ≈ \(\text{₦}9,800\) per hectare.

About This Question

This is Neco 2023 Agricultural Science Question 30. It is one of the objective questions from the 2023 Neco Agricultural Science examination.

Difficulty level: Hard .

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