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Consider an almond farmer's problem of choosing the volume of almonds to produce in a given year, which depends on the age of the almond
Consider an almond farmer's problem of choosing the volume of almonds to produce in a given year, which depends on the age of the almond trees and the amount of labor devoted to harvesting almonds from the trees. In particular, suppose that a plot of land devoted to almond farming has a production function of (, ) = () 1 2 2 , whereis the amount of labor, is the age of the trees, and () represents how tree productivity varies with age. Suppose almonds receive a per-unit price of in a perfectly competitive market, which is assumed to be constant over time. For simplicity, suppose that the supply labor is perfectly elastic and the per-unit cost of labor is equal to zero. i) [2 points] Find the optimal amount of labor for a plot of land for a given age of the trees ()
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