13 CQuestion 4 of 10A farmer has developed a new type of fertilizer. This new fertilizer costs 20¹percent more to produce than the old fertilizer but has better results: Thesame land now produces 25 percent more crops each year.Which statement best describes one way the farm will be affected by usingthis new fertilizer?OA. The farm's marginal benefits for each piece of land will increase.B. The farm's opportunity cost for each piece of land will decrease.C. The farm's opportunity cost for each piece of land will increase.OD. The farm's marginal benefits for each piece of land will decrease.SUBMITPREVIOUS101O. EAf10f11

Opportunity cost Opportunity cost refers to the cost which is sacrificed by the producer by…

Question 4 of 10 A farmer has developed a new type of fertilizer. This new fertilizer costs 20 percent more to produce than the old fertilizer but has better results: The same land now produces 25 percent more crops each year. Which statement best describes one way the farm will be affected by using this new fertilizer? A. The farm's marginal benefits for each piece of land will increase. OB. The farm's opportunity cost for each piece of land will decrease. OC. The farm's opportunity cost for each piece of land will increase. OD. The farm's marginal benefits for each piece of land will decrease.

Question 4 of 10 A farmer has developed a new type of fertilizer. This new fertilizer costs 20 percent more to produce than the old fertilizer but has better results: The same land now produces 25 percent more crops each year. Which statement best describes one way the farm will be affected by using this new fertilizer? A. The farm's marginal benefits for each piece of land will increase. OB. The farm's opportunity cost for each piece of land will decrease. OC. The farm's opportunity cost for each piece of land will increase. OD. The farm's marginal benefits for each piece of land will decrease.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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