Neco Model Questions Vol1 2019 Agricultural Science Question 21
Practice objective / multiple choice question 21 from the 2019 Neco Model Questions Vol1 Agricultural Science examination.
A farmer grows maize. His total cost (in Naira) for producing \(q\) tonnes is given by \(C(q)=0.1q^{2}+300\). The market price per tonne depends on the total market supply \(S\) (in tonnes) according to \(P = 1500 - 0.5S\). Other farmers together supply 2000 tonnes. Assuming the farmer sells all his output, determine the quantity \(q\) (in tonnes) that maximizes his profit. State the optimal \(q\) as an exact fraction.
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About This Question
This is Neco Model Questions Vol1 2019 Agricultural Science Question 21. It is one of the objective questions from the 2019 Neco Model Questions Vol1 Agricultural Science examination.
Difficulty level: Hard .
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