Assume that a producer has a budget of $4000 per growing season, that there are only two variable inputs (fertilizer…
Assume that a producer has a budget of $4000 per growing season, that there are only two variable inputs (fertilizer and insecticide), and that the price of one ton of fertilizer = the price of one barrel of insecticide = $400, Maximum output could be achieved when fertilizer and insecticide are used in the following amounts:
