A Profit-Maximizing Farmer Will Apply Additional Units of Fertilizer Until

question 106

Multiple Choice

A profit-maximizing farmer will apply additional units of fertilizer until the marginal revenue product (MRP) of fertilizer is half the MRP of skilled labor when a unit of fertilizer

• A) costs twice as much as a unit of skilled labor.
• B) costs half as much as a unit of skilled labor.
• C) is half as productive, on average, as a unit of skilled labor.
• D) is twice as productive, on average, as a unit of skilled labor.

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