Neco 2024 Economics Question 15

Practice objective / multiple choice question 15 from the 2024 Neco Economics examination.

Neco 2024 Economics Objective / Multiple Choice Easy Difficulty
Question 15 NECO • 2024 • ECONOMICS • objective

A farmer can use his land either for maize or beans. With all land devoted to maize the output is 120 tonnes of maize and 0 beans; with all land devoted to beans the output is 0 maize and 80 tonnes of beans. If the farmer currently produces 48 tonnes of maize, (a) what is the maximum possible beans output? (b) What is the opportunity cost of producing one additional tonne of maize in terms of beans?

Answer Options

A. Maximum beans = 56 tonnes; opportunity cost of one extra tonne of maize = 3\/4 tonne of beans.
B. Maximum beans = 48 tonnes; opportunity cost of one extra tonne of maize = 1\/1 tonne of beans.
C. Maximum beans = 32 tonnes; opportunity cost of one extra tonne of maize = 1\/2 tonne of beans.
Correct Answer D. Maximum beans = 48 tonnes; opportunity cost of one extra tonne of maize = 2/3 tonne of beans.
Correct Answer
D
Correct Option:
Maximum beans = 48 tonnes; opportunity cost of one extra tonne of maize = 2/3 tonne of beans.

About This Question

This is Neco 2024 Economics Question 15. It is one of the objective questions from the 2024 Neco Economics examination.

Difficulty level: Easy .

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