Neco 2025 Economics Question 16
Practice objective / multiple choice question 16 from the 2025 Neco Economics examination.
A farmer plans to cultivate maize on 10 hectares. Fixed costs amount to ₦150,000. For each hectare, the farmer can apply F kilograms of fertilizer (0 ≤ F ≤ 30). The yield per hectare (in tonnes) is given by \(Y_f = 2 + 0.1F\). The cost of fertilizer is ₦500 per kilogram and other variable costs amount to ₦20,000 per hectare. The farmer wishes to earn a profit of exactly ₦200,000. Determine the minimum price per tonne of maize, \(P\) (in Naira), that the farmer must obtain to meet the profit target, assuming the farmer will use the fertilizer amount that minimises the required price.
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About This Question
This is Neco 2025 Economics Question 16. It is one of the objective questions from the 2025 Neco Economics examination.
Difficulty level: Hard .
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