What does it mean by finding the optimum combination

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Reference no: EM133298914

Question 1. Explain the economic problem in farm management.

Question 2. Discuss the distinguishing features of farming as a business.

Question 3. Financing of farming is more risky as compared to other industries.

Question 4. Explain the sources of finance in farm business.

Question 5. What does it mean by finding the optimum combination of two inputs from the various combinations producing a fixed level of output? EXPLAIN.

Question 6. The following table shows a relationship between the owner of Jim's farm and the tenant who works on the farm and has equal share. Fill in the space by calculating:

a.Marginal cost of fertilizer

b.Marginal revenue, and

c.tenants share of marginal revenue

d.Briefly what's your analysis of the data

Bags of fertilizer (50kg)	Bags of Corn produced (90kg)
0	120
10	152
15	180
20	200
25	212
30	216
35	216

Reference no: EM133298914

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