Neco Model Questions Vol1 2019 Agricultural Science Question 16
Practice objective / multiple choice question 16 from the 2019 Neco Model Questions Vol1 Agricultural Science examination.
A farmer produces maize. Fixed costs are N500,000 and variable cost is N150,000 per ton. The market price per ton depends on the quantity produced and is given by \(P(Q) = 600,000 - 20,000 Q\) where \(Q\) is the quantity in tons. Determine the quantity \(Q\) that maximizes the farmer's profit and state the maximum profit.
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About This Question
This is Neco Model Questions Vol1 2019 Agricultural Science Question 16. It is one of the objective questions from the 2019 Neco Model Questions Vol1 Agricultural Science examination.
Difficulty level: Hard .
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