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Elucidate the marginal value product per ton of fertilizer

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Reference no: EM1352378

Assume that the price of sorghum grain is $6.00 per bushel. When we apply 30 tons of fertilizer on our 20 acres of sorghum grain, the total yield is 1000 bushels. When we apply 50 tons of fertilizer, the total yield is 1500 bushels. What is the marginal value product per ton of fertilizer?

Reference no: EM1352378

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