Question: QUESTION 8 Use the table to answer the following question: Nitrogen applied (lbs) 0 25 Yield (bushels) 80 Total revenue $320 Total cost $600 Marginal

QUESTION 8 Use the table to answer the following question: Nitrogen applied (lbs) 0 25 Yield (bushels) 80 Total revenue $320 Total cost $600 Marginal revenue Marginal cost 114 $4.00 456 552 50 610 620 138 $0.29 0.42 4.00 75 155 630 4.00 620 664 100 166 640 4.00 0.59 0.91 1.67 172 688 4.00 125 150 176 2.50 704 712 650 660 670 680 4.00 400 175 178 5.00 200 179 716 4.00 10.00 Assume nitrogen costs $0.40 per pound and corn price is $4.00 per bushel What is the profit maximizing amount of corn to produce? O a 172 bulac b. 176 bulac O c. 150 lbs Od. 125 lbs

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