Neco Model Questions Vol1 2021 Agricultural Science Question 30
Practice objective / multiple choice question 30 from the 2021 Neco Model Questions Vol1 Agricultural Science examination.
The market for fertilizer is described by the demand equation \( Q_d = 200 - 4P \) and the supply equation \( Q_s = -20 + 6P \), where \( P \) is the price received by sellers (in naira per kg) and \( Q \) is quantity (in kg). The government imposes a per‑unit tax of ₦10 on buyers. Determine (i) the price paid by buyers, (ii) the price received by sellers, (iii) the equilibrium quantity after the tax, and (iv) the dead‑weight loss resulting from the tax (in naira).
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About This Question
This is Neco Model Questions Vol1 2021 Agricultural Science Question 30. It is one of the objective questions from the 2021 Neco Model Questions Vol1 Agricultural Science examination.
Difficulty level: Hard .
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