Suppose a farmer has a fixed resource of 80 acres planted in corn. If the farmer does not cultivate the cornfield (clear the weeds) at all, the yield will be 40 bushels per acre. If he cultivates the land once, output may rise to 50 bushels per acre. A second cultivation may increase output to 57 bushels per acre, a third to 61, and a fourth to 63. a. What will succeeding cultivations will do? b. Why not just keep adding fertilizers and harvesters? c. Give another agriculture related example that will fit this concept.

Suppose a farmer has a fixed resource of 80 acres planted in corn. If the farmer does not cultivate the cornfield (clear the weeds) at all, the yield will be 40 bushels per acre. If he cultivates the land once, output may rise to 50 bushels per acre. A second cultivation may increase output to 57 bushels per acre, a third to 61, and a fourth to 63. a. What will succeeding cultivations will do? b. Why not just keep adding fertilizers and harvesters? c. Give another agriculture related example that will fit this concept.

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter32: The Land Market And Natural Resources

Section: Chapter Questions

Problem 8E

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