When Farmer Hoglund applies N pounds of fertilizer per acre, the marginal product of fertilizer is 1 -N/200 bushels of corn. If the price of corn is $4 per bushel and the price of fertilizer is $1.20 per pound, then how many pounds of fertilizer per acre should Farmer Hoglund use in order to maximize his profits?
I already know the answer, I was just hoping for some help on the steps.
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When Farmer Hoglund applies N pounds of fertilizer per acre, the marginal product of fertilizer is 1...
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