Marginal output = -0.125x+1, Selling price of apples is $200/unit x is the number of units of herbicide used in apple production Input price of herbicide is $100/unit 1. how many units of herbicide input would maximize profit? 2. How many units of herbicide would be optimal to use if the selling price of apples increased to $400/unit?

Marginal output = -0.125x+1, Selling price of apples is $200/unit x is the number of units of herbicide used in apple production Input price of herbicide is $100/unit 1. how many units of herbicide input would maximize profit? 2. How many units of herbicide would be optimal to use if the selling price of apples increased to $400/unit?

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter29: Resource Markets

Section: Chapter Questions

Problem 6E

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