If Farmer Jones plants no seeds on her farm, she gets no harvest. If she plants 1 bag of seeds, she gets 3 bushels of wheat. If she plants 2 bags, she gets 5 bushels. If she plants 3 bags, she gets 6 bushels. A bag of seeds costs $100, and seeds are her only cost. Use these data to graph the farmer’s production function and total-cost curve. Explain their shapes.

Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter12: The Cost Of Production
Section12.2: Production And Costs
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If Farmer Jones plants no seeds on her farm, she gets no harvest. If she plants 1 bag of seeds, she gets 3 bushels of wheat. If she plants 2 bags, she gets 5 bushels. If she plants 3 bags, she gets 6 bushels. A bag of seeds costs $100, and seeds are her only cost. Use these data to graph the farmer’s production function and total-cost curve. Explain their shapes.

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