Use the table below to answer the following questions.
Table 15.2.2
Chemical Fertilizer Market
-Refer to Table 15.2.2.The efficient output of fertilizer is
A)1 tonne.
B)2 tonnes.
C)3 tonnes.
D)4 tonnes.
E)5 tonnes.

Question

Use the table below to answer the following questions.
Table 15.2.2
Chemical Fertilizer Market 
-Refer to Table 15.2.2.The efficient output of fertilizer is
A)1 tonne. 
B)2 tonnes. 
C)3 tonnes. 
D)4 tonnes. 
E)5 tonnes.

Quizplus · Accepted Answer

The efficient output of fertilizer can be determined by looking at the output at which the marginal cost equals the marginal revenue. In this table, the marginal cost and marginal revenue are equal at an output of 3 tonnes of fertilizer. Therefore, the efficient output is 3 tonnes.

Use the Table Below to Answer the Following Questions