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Q. A farmer has 20 acres of land which can be planted in corn. All of the land is equally fertile. With normal weather also existing production technology (the ability also effort of the farmer; type of seed, fertilizer also pest also weed control methods; tractors also harvesters; also so on), the land can produce 150 bushels of corn per acre.

Pick a point on the horizontal axis to demonstrate the maximum amount of corn which can be grown using the existing production technology. For the next several troubles, ignore the vertical axis. All of the measurements of corn can be represented as points on the horizontal axis, so you will want to select a point located there.

 

 

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M9219609

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