In Problem 9, When Farmer Hoglund Applies N Pounds of Fertilizer

question 1

Multiple Choice

In Problem 9, when Farmer Hoglund applies N pounds of fertilizer per acre, the marginal product of fertilizer is bushels of corn. If the price of corn is $4 per bushel and the price of fertilizer is $.40 per pound, then how many pounds of fertilizer per acre should Farmer Hoglund use in order to maximize his profits?

• A) 360
• B) 94
• C) 180
• D) 368
• E) 200

---

Definitions:

Random Number Generator

A tool or algorithm used to produce a sequence of numbers that lacks any predictable pattern, often used in statistical sampling, computer simulations, and cryptography.

Volunteer Sampling

The selection of research participants from a pool of individuals who have expressed a willingness to participate, which may not fully represent the population.

Quota Sampling

A non-probability sampling technique where the researcher ensures the sample reflects certain characteristics of the population.

Purposive Sampling

A non-random sampling technique used in qualitative research in which participants are selected based on specific characteristics or purposes.