PLEASE PLEASE ANSWER ALL THE QUESTIONS

A farmer owns two fields of equal size that are side-by-side. One field is suitable only for growing corn and the other is suitable only for growing soybeans. (Don't ask why. :-)

The farmer can produce corn or soybeans with only one other input: labor. (Don't ask how. :-) One unit of labor is the full-time labor of a worker for an entire growing season. A worker must work for the entire season, and s/he must spend the entire season on one field or the other: her/his time can't be split across fields. (Don't ask why. :-)

The following tables record the number of bushels of output (soybeans or corn) that results from putting different numbers of workers on one of the fields for a season.

Number of workers	Corn field output (bu.)
0	0
1	100
2	180
3	240
4	280
5	300

Number of workers	Soybeans field output (bu.)
0	0
1	60
2	120
3	180
4	240
5	300

Just to be clear, if the farmer puts, say, a total of two workers on the corn field, s/he'll produce 180 bushels of corn. But s/he can't use those workers on the wheat field. If s/he has additional workers available, and s/he puts them on the soybeans field, s/he'll also produce some soybeans.

Suppose that, next season, the farmer acquires one more worker, so that s/he has a total of five workers available. You should assume, throughout this question and the next, that s/he uses all five workers in production.Also, suppose the market price of soybeans is $10 per bushel. (That price will not change in this question, until the very end.)

Suppose the farmer's goal is to maximize the total market value of his soybeans and corn output. Identify the combinations (ordered pairs) of corn and soybeans he'll choose to produce when the market price of corn is: $5 per bushel, $7 per bushel, $9 per bushel, $12 per bushel, or $16 per bushel. (Each corn price should produce a single best combination.) You won't report all these ordered pairs, but I'll ask you questions about them, and you'll use them, later in this question, to construct a plot on a graph. Hint: For each corn price, calculate the market value (given the fixed soybeans price) of each (s, c) pair the farmer can produce; choose the pair that produces the largest market value. You should get a different "best pair" for each corn price.

1. What's the corn coordinate of the best (s, c) pair when the corn price is $5 per bushel?

2. Answer the same question when the corn price is $9 per bushel.

3. Answer the same question when the corn price is $16 per bushel.

Use your findings to identify five ordered pairs that represent points on the farmer's supply curve for corn.

These ordered pairs have the form (c, p), where c represents the number of bushels of corn produced and p represents the market price of corn, in dollars per bushel. For each of the five corn prices, assume the farmer produces your "best pair" from Part A. You won't report all these ordered pairs, but I'll ask you questions about them, and you'll use them, later in this question, to construct a plot on a graph.

4. What's the corn coordinate of the pair with p = 7?

5. Answer the same question for the pair with p = 12.