Neco 2024 Economics Question 28
Practice objective / multiple choice question 28 from the 2024 Neco Economics examination.
A farmer cultivates maize on 2 hectares. The yield per hectare (in tonnes) as a function of fertilizer applied (kg per hectare) is given by \(Y = 0.02F - 0.0001F^{2} + 3\). Fertilizer costs \(\text{₦}150\) per kg and the market price of maize is \(\text{₦}120\) per kg. Determine the amount of fertilizer (kg per hectare) that maximizes profit and compute the maximum total profit for the 2‑hectare farm. Give the fertilizer amount to two decimal places and the profit to the nearest naira.
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About This Question
This is Neco 2024 Economics Question 28. It is one of the objective questions from the 2024 Neco Economics examination.
Difficulty level: Hard .
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