1-26 A farmer must decide what combination of see water, fertilizer, and pest control will be most pro itable and environmentally conscious for the comi G year. The local agricultural college did a study of this farmer's situation and prepared the following table. Direct Extra-market Plan Cost/Acre Cost/Acre Income/Acre A $750 $150 $1200 В 800 450 1400 C 1000 250 1500 D 1300 200 1650 The last page of the college's study was torn off, and hence the farmer is not sure which plan the agri- cultural college recommends. Which plan should the farmer adopt considering: (a) only the direct costs, (b) both the direct and extra-market costs?

1-26 A farmer must decide what combination of see water, fertilizer, and pest control will be most pro itable and environmentally conscious for the comi G year. The local agricultural college did a study of this farmer's situation and prepared the following table. Direct Extra-market Plan Cost/Acre Cost/Acre Income/Acre A $750 $150 $1200 В 800 450 1400 C 1000 250 1500 D 1300 200 1650 The last page of the college's study was torn off, and hence the farmer is not sure which plan the agri- cultural college recommends. Which plan should the farmer adopt considering: (a) only the direct costs, (b) both the direct and extra-market costs?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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