Neco Model Questions Vol1 2024 Agricultural Science Question 43
Practice objective / multiple choice question 43 from the 2024 Neco Model Questions Vol1 Agricultural Science examination.
A farmer cultivates maize on 10 ha. Fixed costs amount to \(150\,000\) N. Variable cost is \(30\,000\) N per ton of maize produced. Yield per hectare depends on the amount of fertilizer applied per hectare (\(x\) kg) according to \(Y = 0.05x\) tons for \(0 \le x \le 100\) (the yield caps at 5 t ha⁻¹). Fertilizer costs \(200\) N per kg. The market price is \(80\,000\) N per ton for the first 20 t of total production; for each ton produced above 20 t, the price per ton falls by 5 % of the original price for each additional ton.\n\nDetermine the amount of fertilizer per hectare (in kg) that maximizes the farmer's profit and compute the maximum profit (in N).
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This is Neco Model Questions Vol1 2024 Agricultural Science Question 43. It is one of the objective questions from the 2024 Neco Model Questions Vol1 Agricultural Science examination.
Difficulty level: Hard .
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