Neco Model Questions Vol1 2019 Economics Question 28
Practice objective / multiple choice question 28 from the 2019 Neco Model Questions Vol1 Economics examination.
A farmer cultivates 5 hectares of cassava. The average yield is 12 tonnes per hectare. Variable cost is ₦40,000 per tonne and fixed cost is ₦150,000 per hectare. The market price is ₦70,000 per tonne. A processing company offers a premium of 15% above the market price for the first 30 tonnes sold, after which the price reverts to the market price. Will the farmer make a profit? If so, calculate the profit (in Naira).
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About This Question
This is Neco Model Questions Vol1 2019 Economics Question 28. It is one of the objective questions from the 2019 Neco Model Questions Vol1 Economics examination.
Difficulty level: Hard .
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