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An agronomist wants to compare the crop yield of 3 varieties of chickpea seeds. She plants all 3 varieties of the seeds on each of 5 different patches of fields. She then measures the crop yield in bushels per acre. She has found out that the different varieties do have an impact on crop yield. Which of the following tests will be the most appropriate to find out which variety will produce the highest yield?
Marginal Product
The additional output that is produced by adding one more unit of a specific input, while holding other inputs constant.
Total Dollars
The aggregate or total amount of money without adjusting for factors such as inflation or purchasing power.
Optimal Factor Mix
The most efficient combination of resources and inputs a firm uses to produce goods or services at the lowest cost.
Resource Markets
Markets where productive inputs, such as labor, natural resources, and capital, are bought and sold.
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