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WAEC Agricultural Science 2021 Question 47

Question 47

Basic Agricultural Economics

The table below illustrates the supply schedule for maize.
Price (N) 24 — Quantity supplied 480 kg
Price (N) 16 — Quantity supplied 400 kg
Calculate the percentage change in price for maize.

  1. A.8.0%
  2. B.33.3%
  3. C.50.0%
  4. D.66.7%
Show the answer and explanation

Answer: B (33.3%)

Explanation

(24 − 16) ÷ 24 × 100 = 33.3%.