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In 1921 a classic set of experiments with chemical fertilizers were performed at the Rothampsted Experimental Station, an agricultural research institute in Hertfordshire, England. Researchers applied different amounts of a particular fertilizer to 10 apparently identical plots of land. The results for one test, using identical seed grain, are listed in the table. Compute the average and marginal product of fertilizer. Fertilizer Output Average Dose Index* Product 15 104.2 20 110.4 25 118.0 30 125.3 35 130.2 40 131.4 45 131.9 50 132.3 9 55 132.5 10 60 132.6 "Output without fertilizer = 100 (Round your responses for marginal product to three decimal places and round your responses for average product to one decimal place.) Plot 1 2 3 4 5 6 7 8 Marginal Product 1.) Use the multipoint curve drawing tool to plot the AP and MP curves on a scale diagram. Remember toplot the value for MP at the midpoint of the output intervals. Use all the values provided in the table above to draw the curves. Properly label the lines. 2.) Use the point drawing tool to plot the (approximate) points of diminishing average and marginal productivity. Label these points "DA" and "DM," respectively. Carefully follow the instructions above, and only draw the required objects. After studying the results of the experiment and computing the average product for the first ten plots, you can conclude that product is ▼. From this we can conclude that the marginal product is the average product. 7- 6.5 6- 5.5 5 4.5 43 3.5 3- 2.5 2- 1.5 13 1 0.5 0 10 Fertilizer dose 50

In 1921 a classic set of experiments with chemical fertilizers were performed at the Rothampsted Experimental Station, an agricultural research institute in Hertfordshire, England. Researchers applied different amounts of a particular fertilizer to 10 apparently identical plots of land. The results for one test, using identical seed grain, are listed in the table. Compute the average and marginal product of fertilizer. Fertilizer Output Average Dose Index* Product 15 104.2 20 110.4 25 118.0 30 125.3 35 130.2 40 131.4 45 131.9 50 132.3 9 55 132.5 10 60 132.6 "Output without fertilizer = 100 (Round your responses for marginal product to three decimal places and round your responses for average product to one decimal place.) Plot 1 2 3 4 5 6 7 8 Marginal Product 1.) Use the multipoint curve drawing tool to plot the AP and MP curves on a scale diagram. Remember toplot the value for MP at the midpoint of the output intervals. Use all the values provided in the table above to draw the curves. Properly label the lines. 2.) Use the point drawing tool to plot the (approximate) points of diminishing average and marginal productivity. Label these points "DA" and "DM," respectively. Carefully follow the instructions above, and only draw the required objects. After studying the results of the experiment and computing the average product for the first ten plots, you can conclude that product is ▼. From this we can conclude that the marginal product is the average product. 7- 6.5 6- 5.5 5 4.5 43 3.5 3- 2.5 2- 1.5 13 1 0.5 0 10 Fertilizer dose 50

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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In 1921 a classic set of experiments with chemical fertilizers were performed at the Rothampsted Experimental Station, an agricultural research institute in Hertfordshire, England. Researchers applied different amounts of a particular fertilizer to 10 apparently identical plots of land. The results for one test, using identical seed grain, are listed in the table. Compute the average and marginal product of fertilizer. Fertilizer Output Average Dose Index * Product 15 104.2 20 110.4 25 118.0 30 125.3 35 130.2 6 40 131.4 7 45 131.9 8 50 132.3 9 55 132.5 10 60 132.6 *Output without fertilizer = 100 (Round your responses for marginal product to three decimal places and round your responses for average product to one decimal place.) Plot 1 2 3 4 5 Marginal Product | | | T | 1.) Use the multipoint curve drawing tool to plot the AP and MP curves on a scale diagram. Remember toplot the value for MP at the midpoint of the output intervals. Use all the values provided in the table above to draw the curves. Properly label the lines. 2.) Use the point drawing tool to plot the (approximate) points of diminishing average and marginal productivity. Label these points "D" and "DM." respectively. Carefully follow the instructions above, and only draw the required objects. After studying the results of the experiment and computing the average product for the first ten plots, you can conclude that ▼product is From this we can conclude that the marginal product is the average product. 77 6.5 6 5.5-4 53 4.5- 43 3.5 3- 2.5- 2-3 1.5 13 0.5- 03 10 Fertilizer dose 50
Transcribed Image Text:In 1921 a classic set of experiments with chemical fertilizers were performed at the Rothampsted Experimental Station, an agricultural research institute in Hertfordshire, England. Researchers applied different amounts of a particular fertilizer to 10 apparently identical plots of land. The results for one test, using identical seed grain, are listed in the table. Compute the average and marginal product of fertilizer. Fertilizer Output Average Dose Index * Product 15 104.2 20 110.4 25 118.0 30 125.3 35 130.2 6 40 131.4 7 45 131.9 8 50 132.3 9 55 132.5 10 60 132.6 *Output without fertilizer = 100 (Round your responses for marginal product to three decimal places and round your responses for average product to one decimal place.) Plot 1 2 3 4 5 Marginal Product | | | T | 1.) Use the multipoint curve drawing tool to plot the AP and MP curves on a scale diagram. Remember toplot the value for MP at the midpoint of the output intervals. Use all the values provided in the table above to draw the curves. Properly label the lines. 2.) Use the point drawing tool to plot the (approximate) points of diminishing average and marginal productivity. Label these points "D" and "DM." respectively. Carefully follow the instructions above, and only draw the required objects. After studying the results of the experiment and computing the average product for the first ten plots, you can conclude that ▼product is From this we can conclude that the marginal product is the average product. 77 6.5 6 5.5-4 53 4.5- 43 3.5 3- 2.5- 2-3 1.5 13 0.5- 03 10 Fertilizer dose 50
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