Neco Model Questions Vol1 2020 Agricultural Science Question 49
Practice objective / multiple choice question 49 from the 2020 Neco Model Questions Vol1 Agricultural Science examination.
The timber volume per hectare of a fast‑growing species follows the logistic growth function \(V(t)=\dfrac{K}{1+ae^{-bt}}\) where \(t\) is the age in years, \(K=200\) m³ ha⁻¹, \(a=9\) and \(b=0.08\). The forest is managed under a single‑rotation system: trees are harvested at age \(T\) years and the stand is immediately replanted. Timber sells for \(\text{₦}150\) per m³ and the annual discount rate is 10 %. Harvest cannot be done before the trees reach a commercial age of 20 years. Using the Faustmann formula, determine the rotation age \(T\) (to the nearest year) that maximises the present value of the infinite series of harvests, and give the maximum present value per hectare (in Naira).
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About This Question
This is Neco Model Questions Vol1 2020 Agricultural Science Question 49. It is one of the objective questions from the 2020 Neco Model Questions Vol1 Agricultural Science examination.
Difficulty level: Hard .
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