A tilapia farmer stocks 10 000 fingerlings, each costing ₦10. The expected survival rate to harvest is 80 % and the average market weight per surviving fish is 0.5 kg. The feed conversion ratio (FCR) is 1.5 kg feed per kg fish gain. Feed costs ₦250 per kg, and other variable costs amount to ₦30 per kg of fish produced. Fixed costs for the production cycle are ₦500{,}000. The market price of harvested tilapia is ₦800 per kg. Calculate:

a) total fish production (kg);

b) total variable cost (₦);

c) total cost (fixed + variable) (₦);

d) total revenue (₦);

e) net profit (₦).

Question

A tilapia farmer stocks 10 000 fingerlings, each costing ₦10. The expected survival rate to harvest is 80 % and the average market weight per surviving fish is 0.5 kg. The feed conversion ratio (FCR) is 1.5 kg feed per kg fish gain. Feed costs ₦250 per kg, and other variable costs amount to ₦30 per kg of fish produced. Fixed costs for the production cycle are ₦500{,}000. The market price of harvested tilapia is ₦800 per kg. Calculate:

a) total fish production (kg);

b) total variable cost (₦);

c) total cost (fixed + variable) (₦);

d) total revenue (₦);

e) net profit (₦).

Accepted Answer

a) 4,000 kg; b) ₦1,620,000; c) ₦2,120,000; d) ₦3,200,000; e) ₦1,080,000

Neco Model Questions Vol1 2023 Agricultural Science Question 35

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