Multiple Choice
when Farmer Hoglund applies N pounds of fertilizer per acre, the marginal product of fertilizer is 1 - N/200 bushels of corn.If the price of corn is $3 per bushel and the price of fertilizer is $.30 per pound, then how many pounds of fertilizer per acre should Farmer Hoglund use in order to maximize his profits?
A) 180
B) 360
C) 94
D) 368
E) 200
Correct Answer:
Verified
Correct Answer:
Verified
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Q10: the production function is given by F(L)=
Q11: if the price of the output good
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Q13: the production function is f(x<sub>1</sub>, x<sub>2</sub>)= x<sup>1/2</sup><sub>1</sub>x<sup>1/2</sup><sub>2</sub>.If
Q15: the production function is f(x<sub>1</sub>, x<sub>2</sub>)= x<sup>1/2</sup><sub>1</sub>x<sup>1/2</sup><sub>2</sub>.If
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Q17: when Farmer Hoglund applies N pounds
Q18: The production function is given by f(x)=
Q19: when Farmer Hoglund applies N pounds