Sorghum Production (bushels)

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Presentation transcript:

Sorghum Production (bushels) AGEC 105 EQ #7 October 10, 2011 (4 pts) Land (Acres) Fertilizer (Tons) Sorghum Production (bushels) MPP APP 4 40 68 - ? 75 1.25 (1/2 pt) (1 pt) (a) The relationship among land, fertilizer and sorghum production is technically referred to as the _TPP curve or production function. Which input is the variable input? Fertilizer Which input is the fixed input? Land What is the APP of fertilizer when fertilizer use is 40 tons? 1.7 When APP = 1.25, what is the level of fertilizer use? 60 tons (f) What is the MPP of fertilizer? 0.35 tons / bushel To what stage of production does this situation correspond? Why? Answer: stage 2 because APP > MPP > 0