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mahan1994 mahan1994
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A year ago


Short description: A graph plots fertilizer applied per acre of wheat against yield per acre in tonnes. Long description: The horizontal axis representing fertilizer applied per acre of wheat ranges from 0 to 80, in increments of 10. The vertical axis representing yield per acre in tonnes ranges from 0 to 6, in increments of 1. The graph shows a curve that passes through the following points: A (10, 2.5), B (30, 4.8), and C (60, 6.2). A vertical dashed line is drawn from the points to meet the horizontal axis. Note: all values are approximate.

FIGURE 2-4

Refer to Figure 2-4. If we want to know the marginal response of "yield per acre" due to a change in "fertilizer applied per acre of wheat" at point B, then we should determine the



▸ slope of a straight line joining points B and C.

▸ yield per acre at 30 units of fertilizer.

▸ slope of a straight line tangent to point B.

▸ quantity of fertilizer applied at point B.

▸ slope of a straight line from the origin to point B.
Textbook 
Microeconomics

Microeconomics


Edition: 17th
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RobnHoodRobnHood
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