Think Break #3 N lbs/A Yield bu/A MP VMP 30 --- 25 45 0.6 50 75 1.2

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Presentation transcript:

Think Break #3 N lbs/A Yield bu/A MP VMP 30 --- 25 45 0.6 50 75 1.2 105 100 135 125 150 165 200 170 0.1 250 160 -0.1 Fill in the VMP column in the table using $2/bu for the corn price. What is the profit maximizing N fertilizer rate if the N fertilizer price is $0.2/lb?

Think Break #3: Answer N lbs/A Yield bu/A MP VMP 30 --- 25 45 0.6 1.2 50 75 2.4 105 100 135 125 150 165 200 170 0.1 0.2 250 160 -0.1 -0.2 Fill in the VMP column in the table using $2/bu for the corn price. VMP = p x MP What is the profit maximizing N fertilizer rate if the N fertilizer price is $0.2/lb? Where VMP = r = 0.2

Think Break #3: Answer