Neco Model Questions Vol1 2022 Civic Education Question 44
Practice objective / multiple choice question 44 from the 2022 Neco Model Questions Vol1 Civic Education examination.
An official may accept a bribe of amount \(B\) million naira. The probability of being caught is \(p = 0.02 + 0.001B\). If caught, the official pays a fine equal to five times the bribe and incurs an additional non‑monetary cost valued at \(\text{₦}10\) million. The expected net gain from the bribe is therefore \(G(B) = (1-p)B - p(5B + 10)\). What bribe amount (in million naira), rounded to the nearest whole million, maximizes the expected net gain?
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About This Question
This is Neco Model Questions Vol1 2022 Civic Education Question 44. It is one of the objective questions from the 2022 Neco Model Questions Vol1 Civic Education examination.
Difficulty level: Hard .
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