Question: Use the table to answer the following question: Nitrogen applied (lbs) 0 25 Yield (bushels) 80 Marginal revenue Marginal cost 114 $4.00 50 $0 29

Use the table to answer the following question: Nitrogen applied (lbs) 0 25 Yield (bushels) 80 Marginal revenue Marginal cost 114 $4.00 50 $0 29 042 400 75 059 138 155 166 172 0.91 100 125 150 175 200 400 400 4.00 4.00 4.00 400 176 1.67 2.50 500 178 179 10.00 Assume nitrogen costs $0.40 per pound, com price is $4.00 per bushel and all other costs total $800 per acre. At the profit maximizing amount of output what is profit per acre? O a $60/acre O b. 8644/acre O c. $704/acre Od $44/acre

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