Profit from fertilizer: Fertilizer can increase crop production, but the cost of the fertilizer must be taken into account. The curved graph in Figure 1.48 on the following page shows29 the added...

Profit from fertilizer: Fertilizer can increase crop production, but the cost of the fertilizer must be taken into account. The curved graph in Figure 1.48 on the following page shows29 the added bushels per acre of corn that resulted from fertilizer application versus pounds per acre of nitrogen applied. The straight line shows the cost (in bushels of corn, not dollars) versus pounds per acre of nitrogen applied.

a. How many pounds per acre of nitrogen should be applied to produce maximum crop yield?

b. The profit is the crop yield minus the fertilizer cost. For each level of fertilizer application, how can the profit be read off the graph?

c. How many pounds per acre of nitrogen should be applied to achieve maximum profit?