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Q1. A) Using the production function of the Rice (given below) complete the following table Number of Acres Production function for rice (Ton of fertilizer employed per Cultivated Per Year year) 1 2 3 4 5 6 1 50 150 275 375 450 500 2 150 350 550 700 800 875 3 240 500 740 900 1020 1120 4 300 660 920 1060 1180 1270 5 330 790 1070 1200 1300 1350 6 340 900 1170 1250 1310 1360 Amount of Amount of Land Fertilizer Total Output of Fertilizer Tons of Wheat Produced Per Year Average Product Marginal Product of Fertilizer 2 0 0 2 1 2 2 3 3 4 4 5 6 5 6 B) Draw the diagram of TP, AP and MP curves and explain some fruitful inferences it in your own.

Q1. A) Using the production function of the Rice (given below) complete the following table Number of Acres Production function for rice (Ton of fertilizer employed per Cultivated Per Year year) 1 2 3 4 5 6 1 50 150 275 375 450 500 2 150 350 550 700 800 875 3 240 500 740 900 1020 1120 4 300 660 920 1060 1180 1270 5 330 790 1070 1200 1300 1350 6 340 900 1170 1250 1310 1360 Amount of Amount of Land Fertilizer Total Output of Fertilizer Tons of Wheat Produced Per Year Average Product Marginal Product of Fertilizer 2 0 0 2 1 2 2 3 3 4 4 5 6 5 6 B) Draw the diagram of TP, AP and MP curves and explain some fruitful inferences it in your own.

Microeconomic Theory
Microeconomic Theory
12th Edition
ISBN:9781337517942
Author:NICHOLSON
Publisher:NICHOLSON
Chapter9: Production Functions
Section: Chapter Questions
Problem 9.3P
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Q1. A) Using the production function of the Rice (given below) complete the following table Number of Acres Production function for rice (Ton of fertilizer employed per Cultivated Per Year year) 1 2 3 4 5 6 1 50 150 275 375 450 500 2 150 350 550 700 800 875 3 240 500 740 900 1020 1120 4 300 660 920 1060 1180 1270 5 330 790 1070 1200 1300 1350 6 340 900 1170 1250 1310 1360 Amount of Amount of Land Fertilizer Total Output of Fertilizer Tons of Wheat Produced Per Year Average Product Marginal Product of Fertilizer 2 0 0 2 1 2 2 3 3 4 4 5 6 5 6 B) Draw the diagram of TP, AP and MP curves and explain some fruitful inferences it in your own.
Transcribed Image Text:Q1. A) Using the production function of the Rice (given below) complete the following table Number of Acres Production function for rice (Ton of fertilizer employed per Cultivated Per Year year) 1 2 3 4 5 6 1 50 150 275 375 450 500 2 150 350 550 700 800 875 3 240 500 740 900 1020 1120 4 300 660 920 1060 1180 1270 5 330 790 1070 1200 1300 1350 6 340 900 1170 1250 1310 1360 Amount of Amount of Land Fertilizer Total Output of Fertilizer Tons of Wheat Produced Per Year Average Product Marginal Product of Fertilizer 2 0 0 2 1 2 2 3 3 4 4 5 6 5 6 B) Draw the diagram of TP, AP and MP curves and explain some fruitful inferences it in your own.
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