Waec Model Questions Vol1 2024 Agricultural Science Question 28
Practice objective / multiple choice question 28 from the 2024 Waec Model Questions Vol1 Agricultural Science examination.
A farmer has 5 ha of land and can grow either maize or soybean. The data are: Maize: total cost per ha = N15,000; yield = 5 t/ha; market price - 70 % chance N4,000/t, 30 % chance N3,500/t. Soybean: total cost per ha = N20,000; yield = 2 t/ha; market price - 60 % chance N3,800/t, 40 % chance N3,200/t. Assuming the farmer will plant the whole 5 ha with a single crop, which crop gives the higher expected profit and what is that expected profit?
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About This Question
This is Waec Model Questions Vol1 2024 Agricultural Science Question 28. It is one of the objective questions from the 2024 Waec Model Questions Vol1 Agricultural Science examination.
Difficulty level: Hard .
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