Neco Model Questions Vol1 2017 Economics Question 49
Practice objective / multiple choice question 49 from the 2017 Neco Model Questions Vol1 Economics examination.
A farmer can allocate one hectare of land to either wheat or maize. Wheat yields 3 tonnes per hectare and sells for ₦400 per tonne; maize yields 5 tonnes per hectare and sells for ₦250 per tonne. Which crop should the farmer plant to maximize revenue? Also compute the opportunity cost of producing one tonne of wheat in terms of maize revenue (in naira).
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About This Question
This is Neco Model Questions Vol1 2017 Economics Question 49. It is one of the objective questions from the 2017 Neco Model Questions Vol1 Economics examination.
Difficulty level: Easy .
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