Answer Happy

MPP MIC Pounds of Nitrogen Bushels of Corn MVP (MPP x price) MC (per bushel) MR (per bushel) per Acre per Acre 0 100 30 110 10 $7.50 $32.50 $0.75 $3.25 60 125 15 $7.50 $48.75 $0.50 $3.25 90 136 11 $7.50 $35.75 $0.68 $3.25 120 145 9 $7.50 $29.25 $0.83 $3.25 150 150 5 $7.50 $16.25 $1.50 $3.25 180 152 2 $7.50 $6.50 $3.75 $3.25 210 147 -5 $7.50 -$16.25 -$1.50 $3.25 If the cost of nitrogen is 50 cents per pound and the corn price is $3.25 per bushel, how much nitrogen should you apply to maximize profit? O a. 150 lbs. O b. 150 bu/ac O c. 152 bulac O d. 180 lbs.
Assume you own a greenhouse that can be used to grow mums (in pots), pansies (in flats), or a combination of each. The following table shows various combinations of mums and pansies that can be produced. Assume mums can be sold for $2.00 per pot and pansies can be sold for $3.00 per flat. At these output prices, what is the profit maximizing combination to produce? Combination Mums (pots) Pansies (flats) 1 0 1750 2. 220 1644 3 442 1524 4 646 1400 5 810 1267 6 925 1119 7 1021 957 8 1111 791 9 1192 612 10 1266 412 11 1330 200 12 1386 0