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

question 16

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 $1 per bushel and the price of fertilizer is $.20 per pound, then how many pounds of fertilizer per acre should Farmer Hoglund use in order to maximize his profits?

• A) 320
• B) 328
• C) 160
• D) 84
• E) 200

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Definitions:

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