Neco Model Questions Vol1 2024 Economics Question 27
Practice objective / multiple choice question 27 from the 2024 Neco Model Questions Vol1 Economics examination.
A firm produces two products, A and B, using the same machine. Fixed cost = \(200{,}000\) naira. Variable cost per unit: A = \(200\) naira, B = \(300\) naira. Selling price per unit: A = \(500\) naira, B = \(600\) naira. The firm must produce at least 400 units of A and the total output (A + B) cannot exceed 1 200 units. Determine the production quantities of A and B that maximise profit and state the maximum profit.
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About This Question
This is Neco Model Questions Vol1 2024 Economics Question 27. It is one of the objective questions from the 2024 Neco Model Questions Vol1 Economics examination.
Difficulty level: Medium .
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