Waec Model Questions Vol1 2021 Economics Question 47

Practice objective / multiple choice question 47 from the 2021 Waec Model Questions Vol1 Economics examination.

Waec Model Questions Vol1 2021 Economics Objective / Multiple Choice Hard Difficulty
Question 47 WAEC_MODEL_QUESTIONS_VOL1 • 2021 • ECONOMICS • objective

A farmer has 10 ha of land to allocate between wheat (W ha) and maize (M ha). The wheat yield per hectare is Yw = 2 - 0.1W (tons) and the maize yield per hectare is Ym = 3 - 0.15M (tons). Market prices are ₦200 per ton of wheat and ₦150 per ton of maize. Variable costs are ₦100 per hectare of wheat and ₦80 per hectare of maize, with a fixed cost of ₦500. Determine the optimal allocation (W, M) that maximizes profit.

Answer Options

A. W = 76/15 ha (≈5.07 ha), M = 94/15 ha (≈6.27 ha)
B. W = 70/17 ha (≈4.12 ha), M = 100/17 ha (≈5.88 ha)
C. W = 80/17 ha (≈4.71 ha), M = 90/17 ha (≈5.29 ha)
Correct Answer D. W = 76/17 ha (≈4.47 ha), M = 94/17 ha (≈5.53 ha)
Correct Answer
D
Correct Option:
W = 76/17 ha (≈4.47 ha), M = 94/17 ha (≈5.53 ha)

About This Question

This is Waec Model Questions Vol1 2021 Economics Question 47. It is one of the objective questions from the 2021 Waec Model Questions Vol1 Economics examination.

Difficulty level: Hard .

View More Waec Model Questions Vol1 2021 Economics Questions More Waec Model Questions Vol1 Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support