Neco Model Questions Vol1 2017 Agricultural Science Question 44
Practice objective / multiple choice question 44 from the 2017 Neco Model Questions Vol1 Agricultural Science examination.
A farmer produces maize with total cost function \( C(Q) = 20{,}000 + 30Q + 0.02Q^{2} \) (Naira), where \( Q \) is total output in kg. The farmer can sell the crop in two markets. In Market A the price (Naira kg\(^{-1}\)) depends on the quantity sold there: \( P_{A}=150-0.05Q_{A} \). In Market B the price is constant at \( P_{B}=120 \) Naira kg\(^{-1}\). The farmer must allocate the total harvest \( Q = Q_{A}+Q_{B} \) between the two markets. Determine the allocation \( (Q_{A},Q_{B}) \) that maximizes profit and state the maximum profit (in Naira). Assume quantities are whole kilograms.
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About This Question
This is Neco Model Questions Vol1 2017 Agricultural Science Question 44. It is one of the objective questions from the 2017 Neco Model Questions Vol1 Agricultural Science examination.
Difficulty level: Hard .
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