Neco Model Questions Vol1 2017 Agricultural Science Question 29
Practice objective / multiple choice question 29 from the 2017 Neco Model Questions Vol1 Agricultural Science examination.
The timber volume (in m³ per hectare) that a stand of a certain tree species yields at age \(t\) years is given by \(V(t)=0.02t^{3}-0.3t^{2}+5t\) for \(5\le t\le30\). Timber sells for ₦150,000 per m³ and the cost of replanting after harvest is ₦200,000 per hectare. With a discount rate of 10 % per annum, the present value of an infinite series of rotations of length \(t\) years is \(PV(t)=\frac{P\,V(t)-C}{e^{rt}-1}\). Determine the rotation age \(t\) (in whole years) that maximizes \(PV(t)\) and give the corresponding maximum present value per hectare (rounded to the nearest thousand naira).
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About This Question
This is Neco Model Questions Vol1 2017 Agricultural Science Question 29. It is one of the objective questions from the 2017 Neco Model Questions Vol1 Agricultural Science examination.
Difficulty level: Hard .
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