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How many pounds of almonds will he produce per acre

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A farmer has discovered that on his farm, he can get 1400 lbs of almonds per acre if he applies no fertilizer. When he applies N pounds of fertilizer per acre of land, the marginal product of fertilizer is 1-N/200 lbs. of almonds per pound of fertilizer. (i.e. his yield per acre as a function of fertilizer is Q=1400 + N - N2/400)

If the price of almonds is $3/lb, how many pounds of almonds will he produce per acre if fertilizer costs $1.50 per pound?

Reference no: EM132498102

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