Title: FIGURE 2-4Refer to Figure 2-4. Suppose we draw a straight line tangent to point B of the non-linear ...
Post by: ogf78 on Sep 20, 2022
FIGURE 2-4
Refer to Figure 2-4. Suppose we draw a straight line tangent to point B of the non-linear function. The straight line has a slope of 0.075. What information is conveyed to us by this measurement?
▸ Because point B is midway between point A and point C, the yield per acre is 0.075 tonnes of wheat when fertilizer applied is between 10 and 60 units per acre.
▸ At point B, the marginal response to the application of 0.075 units of fertilizer is between 4 and 5 tonnes per acre.
▸ At point B, if one additional unit of fertilizer is applied per acre, the marginal response is 0.075 tonnes of wheat per acre.
▸ At point B, when fertilizer is applied at a rate of 30 units per acre, the yield is 0.075 tonnes per acre.
▸ At point B, the marginal response to the application of 30 units of fertilizer per acre is 0.075 tonnes of wheat.
Title: FIGURE 2-4Refer to Figure 2-4. Suppose we draw a straight line tangent to point B of the non-linear ...
Post by: qwasqwas1 on Sep 20, 2022
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