Waec Model Questions Vol1 2020 Economics Question 19
Practice objective / multiple choice question 19 from the 2020 Waec Model Questions Vol1 Economics examination.
A farmer cultivates maize on 10 hectares. Expected yield is 2.5 tonnes per hectare. The market price is ₦120 per kilogram. Variable cost is ₦30 per kilogram produced, and fixed cost for the farm is ₦1,200,000. The government offers a 20 % subsidy on the variable cost per kilogram. What is the minimum market price per kilogram (rounded to the nearest Naira) that the farmer must receive to break even after the subsidy?
Answer Options
About This Question
This is Waec Model Questions Vol1 2020 Economics Question 19. It is one of the objective questions from the 2020 Waec Model Questions Vol1 Economics examination.
Difficulty level: Hard .
Master the Exam!
You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.