Neco Model Questions Vol1 2017 Agricultural Science Question 48
Practice objective / multiple choice question 48 from the 2017 Neco Model Questions Vol1 Agricultural Science examination.
A farmer grows maize with fixed costs of \(\text{₦}120\,000\) per season and a variable cost of \(\text{₦}30\) per kilogram. The expected yield is \(2\,000\) kg. If the market price per kilogram is \(P\) and the farmer sells the entire crop immediately, the break‑even price satisfies total revenue = total cost. Alternatively, the farmer may store \(30\%\) of the yield and sell it later at a guaranteed price of \(\text{₦}70\) kg\(^{-1}\) after incurring a storage cost of \(\text{₦}5\) kg\(^{-1}\). Determine the break‑even price per kilogram in both scenarios.
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About This Question
This is Neco Model Questions Vol1 2017 Agricultural Science Question 48. It is one of the objective questions from the 2017 Neco Model Questions Vol1 Agricultural Science examination.
Difficulty level: Hard .
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