Neco Model Questions Vol1 2018 Economics Question 41
Practice objective / multiple choice question 41 from the 2018 Neco Model Questions Vol1 Economics examination.
An agricultural entrepreneur has 100 hectares of land to allocate between wheat and maize. Wheat yields 2.5 tonnes per hectare and sells for ₦250 per tonne; its variable cost is ₦200 per hectare. Maize yields 3 tonnes per hectare and sells for ₦120 per tonne; its variable cost is ₦150 per hectare. Fixed costs amount to ₦30,000. Government policy requires that at least 30\% of the land be used for wheat. Determine how many hectares should be allocated to wheat and to maize to maximise profit and state the maximum profit.
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About This Question
This is Neco Model Questions Vol1 2018 Economics Question 41. It is one of the objective questions from the 2018 Neco Model Questions Vol1 Economics examination.
Difficulty level: Hard .
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