What are the tr and mr for each acre

Assignment Help Business Economics

Reference no: EM13801944

Question:

A purely competitive wheat farmer can sell any wheat he grows for $20 per bushel. His five acres of land show diminishing returns, because some are better suited for wheat production than others.

The first acre can produce 1000 bushels of wheat, the second acre 900, the third 800, and so on. Fill in the table given below to answer the following questions.

How many bushels will each of the farmer's five acres produce? How much revenue will each acre generate? What are the TR and MR for each acre?

Reference no: EM13801944

Questions Cloud

Intervention promotes efficiency and equity in the economy : Discuss how government intervention promotes efficiency and equity in the economy. Be sure that you include restraint of trade, indirect costs, deregulation, and overregulation within your analysis.

What are the implications associated with abuse and neglect : What are the implications associated with abuse and neglect.

Calculate the correlation matrix for this problem carry out : a) Kahn and Rudd (1995) examined whether historical performance predicts future performance for a sample of mutual funds that included 300 actively managed U.S. domestic equity funds. One approach they used involved calculating each funds' exposure t..

Social insurance programs and public assistance programs : Discuss the differences that exist between social insurance programs and public assistance programs. What is your opinion regarding how far the government should go in providing assistance to those who need these programs

What are the tr and mr for each acre : How many bushels will each of the farmers five acres produce and How much revenue will each acre generate? What are the TR and MR for each acre?

How does united states differ in providing economic security : How does the United States differ in providing economic security to its citizens from that of the European democracies

What are the concerns regarding immigration : What are the concerns regarding immigration? What are future issues that an immigration policy should address? Be certain to discuss the similarities and differences between the proposals of both parties.

Elavuate political developments such as obamacare : There has been a great deal of controversy over the Affordable Care Act, also known as obamacare. What three methods described that most Americans use to elavuate political developments such as obamacare.

Describe how public opinion is measured in the untied states : Describe how public opinion is measured in the Untied States and the problems that ca arise as a result of this measurement. Also dicuss how public opinion can influence government policy, Cite a specific example.

User Account

All Pages