A Farm Is Able to Produce 10,000 Bushels of Peanuts

question 81

Multiple Choice

A farm is able to produce 10,000 bushels of peanuts per season on 10 acres. Assume it adds one more acre and is able to produce 12,000 bushels per season. The marginal product of the additional acre of land for this farm is:

• A) 10,000 bushels per acre per year.
• B) 1,200 bushels per acre per year.
• C) 2,000 bushels per acre per year.
• D) 12,000 bushels per acre per year.

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Definitions:

Activities-On-Nodes

A project management technique that represents tasks or activities as nodes in a network diagram, with edges indicating dependencies.

Financial Control

The management of a company's finances, ensuring that its resources are used efficiently and effectively.

Liquidity

The measure of how quickly and easily an asset can be converted into cash without significantly affecting its value.

Leverage

Describes the use of borrowed capital or debt to increase the potential return of an investment or project.