In 1921, a classic set of experiments with chemical fertilizers was performed at the Rothampsted Experimental Station,
Question:
In 1921, a classic set of experiments with chemical fertilizers was performed at the Rothampsted Experimental Station, an agricultural research institute in Hertfordshire, England. Researchers applied different amounts of a particular fertilizer to ten apparently identical plots of land. The results for one test, using identical seed grain, are listed in the following table. Create a graph with the fertilizer dose on the horizontal axis and output on the vertical axis. (With no fertilizer, output = 100.) Compute the average and marginal product of fertilizer, and identify the (approximate) points of diminishing average and marginal productivity.
Step by Step Answer:
Microeconomics
ISBN: 978-0321866349
14th canadian Edition
Authors: Christopher T.S. Ragan, Richard G Lipsey