1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
vlada-n [284]
3 years ago
6

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 $4 per bushel and the price of fertilizer is $1.20 per pound, then how many pounds of fertilizer per acre should Farmer Hoglund use in order to maximize his profits?
I already know the answer, I was just hoping for some help on the steps.
Business
2 answers:
eimsori [14]3 years ago
6 0

Answer:

to maximize profit, farmer must use 0.208 pounds of fertilizers

Explanation:

For profit maximization, marginal revenue must be equal to marginal cost.

Here marginal product of fertilizer= 1-N/200

selling price per busher= $4

total marginal revenue= (1-N/200)× 4

Total cost of fertilizer= 1.2N

To maximize profit

Marginal cost= marginal revenue

1.2N= (1-N/200)× 4

4.8N= 1-N/200

N= 0.208 pounds

to maximize profit, farmer must use than 0.208 pounds of fertilizers

Crazy boy [7]3 years ago
3 0

Answer:

N Pounds = 140 to maximize profits

Explanation:

To Maximize profit : Marginal cost equal marginal Revenue

the point where no extra unit can be produced.

1.20*N = (1-N/200)*4  

Step 1 : Divide by $4 on both sides to cancel the $4 on the right hand side

0.3N =1-N/200

Step 2 : Minus 1 on both sides to cancel the 1 on the right hand side

-0.7N = -N/200

Step 3 : Multiply by 200 on both sides to cancel the 200 denominator on the right hand side

-140 = -N

Step 4 : N cannot be negative, therefore multiply by -1 on both sides

N =140

You might be interested in
Two employers, A and B, pay the same wage but Employer A faces a more inelastic supply curve of labor than Employer B. Both firm
Savatey [412]

Answer:

B.) Employer A will employ more capital than Employer B.

Explanation:

8 0
2 years ago
An individual client purchased his residence 5 years ago for $200,000. For 3 of the last 5 years, the client rented out the prop
AlladinOne [14]
Yes the answer is 500,000 dollrs
7 0
3 years ago
to plan effective marketing strategies, a company needs to find out all it can about its competitors. it must constantly compare
mel-nik [20]

This is an example of <u>Competitor Analysis</u>

  • An evaluation of the advantages and disadvantages of present and future rivals is known as competitive analysis in marketing and strategic management. In order to recognize possibilities and risks, this analysis gives both an offensive and a defensive strategic perspective.
<h3><u>What information should a competitor analysis contain?</u></h3>
  • A competitive study should look at the attributes, market share, prices, marketing, differentiators, strengths, and weaknesses of your rivals as well as their locations, cultures, and consumer feedback.
  • This article is for small company owners, both new and experienced, who wish to research their rivals to enhance their goods or services.

To learn more about Competitor Analysis, Click the Links.

brainly.com/question/28090263

brainly.com/question/18685357

#SPJ4

5 0
1 year ago
Soup and salad cost $5.50 in total. the soup costs a dollar more than the salad. how much does the salad cost (in cents)?
atroni [7]
Soup + Salad = 5.50

Soup = Salad + 1

Subtitute both formulas into:

Salad + 1 + Salad = 5.50

2 Salad = 4.50

Salad = $ 2.25
 
          = 225 cents




4 0
3 years ago
Read 2 more answers
Calloway department store buys jackets for $19.75 each and sells them for $37.88 each. what is the markup rate based on cost?
Svet_ta [14]

Answer : The markup rate based on cost is 91.79747%.

We have

Selling price per jacket = $37.88

Cost per jacket = $19.75

Markup rate =[\frac{Selling Price - Cost}{Cost}] * 100

Substituting the values in the formula above we get,

Markup rate = [\frac{37.88-19.75}{19.75}] *100

Markup rate = [\frac{18.13}{19.75}] *100

Markup rate = 91.79746835%

8 0
3 years ago
Other questions:
  • The government decided to reduce taxes on fast-food to increase revenue. The government assumes that fast-food products have a.
    11·1 answer
  • To what aspect of a business structure does the term sole proprietorship refer?
    15·1 answer
  • What is not a criterion that influences manufacturing plant or warehouse facility location decisions?
    6·1 answer
  • The cost of raising capital through retained earnings is the cost of raising capital through issuing new common stock. The cost
    15·1 answer
  • Kenneth is the CEO of a successful carpet company. His factories consume a lot of water and energy, as well as pollute the air a
    11·1 answer
  • Cite 3 reasons for and 3 reasons against rebuilding Greensburg as a “green town.”
    13·1 answer
  • An automobile manufacturer has written a long PowerPoint presentation to share with investors about the upcoming year’s business
    7·1 answer
  • Galaxy Air, previously a no-growth firm, has two million shares outstanding. Until now, it consistently earned $20 million per y
    6·1 answer
  • The right of common shareholders to purchase their proportional share of any common stock later issued by the corporation is cal
    12·1 answer
  • Shamrock, Inc. recorded a loss of $9800 when it sold a van that originally cost $71000 for $14600. Accumulated depreciation on t
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!