Neco Model Questions Vol1 2020 Agricultural Science Question 46
Practice objective / multiple choice question 46 from the 2020 Neco Model Questions Vol1 Agricultural Science examination.
A farmer grows maize. Fixed costs are \(\text{₦}150{,}000\). The variable cost per ton of output \(Q\) (in tons) is given by \(VC = 20{,}000 + 5Q\) (in Naira). The current market price is \(\text{₦}30{,}000\) per ton, but if the farmer produces more than 4,000 tons the price falls by 10 % because of oversupply. Determine the smallest whole‑ton output \(Q\) that will give the farmer a net profit of at least \(\text{₦}200{,}000\).
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About This Question
This is Neco Model Questions Vol1 2020 Agricultural Science Question 46. It is one of the objective questions from the 2020 Neco Model Questions Vol1 Agricultural Science examination.
Difficulty level: Hard .
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