Neco Model Questions Vol1 2021 Agricultural Science Question 18
Practice objective / multiple choice question 18 from the 2021 Neco Model Questions Vol1 Agricultural Science examination.
A farmer incurs fixed costs of \(\₦120{,}000\) for a season and variable costs of \(\₦25{,}000\) per hectare. The farm size is \(8\) ha. The crop is sold at \(\₦45{,}000\) per tonne. A government subsidy pays \(\₦5{,}000\) for each tonne produced above \(2.5\) t ha\(^{-1}\). The farmer expects a yield of \(3.0\) t ha\(^{-1}\).\n\n(a) Calculate the net profit for the season.\n\n(b) If the farmer wants a net profit of at least \(\₦800{,}000\), what is the minimum yield per hectare required (assume the price and subsidy rates remain unchanged)?
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This is Neco Model Questions Vol1 2021 Agricultural Science Question 18. It is one of the objective questions from the 2021 Neco Model Questions Vol1 Agricultural Science examination.
Difficulty level: Hard .
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