Calculate how much revenue will each acre generate

Assignment Help Econometrics

Reference no: EM13237913

A purely competitive wheat farmer can sell any wheat he grows for $30 per bushel. His five acres of land show diminishing returns, because some are better of wheat, the second acre 900, the third 800, the fourth 700, the fifth 600. How much revenue will each acre generate and what are the TR and MR for each acre?

Reference no: EM13237913

Questions Cloud

Groups consistently outperformed the best of the individuals : In a study comparing individual performance with group performance, Laughlin, Zander, Knievel, and Tan found that groups consistently outperformed the best of the individuals.

Explain the boiling point elevation of a solution : Cinnamon owes its flavor and odor to cinnamaldehyde (C9H8O). Determine the boiling point elevation of a solution of 89.3 mg of cinnamaldehyde dissolved in 1.00 g of carbon tetrachloride (kb = 5.03 C/m)

Estimate the value of the start-up company garcia : Estimate the value of the start-up company Garcia,

Explain emission line in the hydrogen spectrum appears : An emission line in the hydrogen spectrum appears in the infrared region at 956 nm. What transition produced this line? Clearly indicate both nf and ni.

Calculate how much revenue will each acre generate : A purely competitive wheat farmer can sell any wheat he grows for $30 per bushel. His five acres of land show diminishing returns, because some are better of wheat, the second acre 900, the third 800, the fourth 700, the fifth 600

Explain a solution of benzaldehyde in methanol : What new compound will be formed when gaseous HCL is added to a solution of benzaldehyde in methanol

Calculate the amount of electric charge stored on each plate : Two parallel plates, each of area 8.17 cm2, are separated by 6.20 mm, Calculate the amount of the electric charge stored on each plate

Make a conclusion about the hypotheses bases : Make a conclusion about the hypotheses bases on your result( not why, should be it means) Required minimum-1 page

Compute the new marginal cost and average cost : Edward the entrepreneur takes 2 hours to cut a lawn, and he cuts 1,000 lawns per year. He uses solar-powered equipment (truck and mover) that will last forever -- and could be sold at any time for $20,000.

User Account

All Pages