User Account

All Pages

How much revenue will each acre generate

Assignment Help Business Economics
Reference no: EM132243999

A purely competitive cotton producer can sell any quantity of cotton he produces for €10 per kg. His five acres of land show diminishing returns because some are better suited for cotton production than others. The first acre can produce 1000 kg, the second acre 900, the third 800, and so on.

a) How much revenue will each acre generate?

b) What are the TR and MR for each acre?

c) If the marginal cost of planting and harvesting an acre is €7000 per acre for each of the five acres, how many acres should the farmer plant and harvest?

Reference no: EM132243999

Questions Cloud

Discuss the application of plant and animal evolution : Discuss the applications of each of following in biology today and include three examples of each with a brief description. Plant and animal evolution.
Explain 3 timing issues recognition : Explain 3 timing issues recognition, administrative and operational lag Explain how these issues affect fiscal policies.
Producing goods overseas using inexpensive labor : Discuss some of the advantages and disadvantages of producing goods overseas using inexpensive labor.
What is his afc per poster : What is his AFC per poster (not per thousand!) if he prints 1000 posters? 2000? 10,000?
How much revenue will each acre generate : The first acre can produce 1000 kg, the second acre 900, the third 800, and so on.
How the theory was a major advance over prior ideas : Darwin was not the first to consider evolution as a process but he did come up with the first effective explanation for how it happens.
Regarding the number of ski jackets to order for ski season : The owner of a ski apparel store in Winter Park, Co must make a decision in July regarding the number of ski jackets to order for the following ski season
Determining factor of its ethical worth : When considering the consequences of an action to be the determining factor of its ethical worth, you are employing what type of ethical reasoning?
Firm chooses dictates such structural elements : The strategy that a firm chooses dictates such structural elements as the division of tasks, the need for integration of activities,

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd