FIGURE 2-4 Refer to Figure 2-4.Suppose we draw a straight line tangent to point B of the non-linear function.The straight line has a slope of 0.075.What information is conveyed to us by this measurement?
A)At point B,the marginal response to the application of 30 units of fertilizer per acre is 0.075 tonnes of wheat.
B)At point B,if one additional unit of fertilizer is applied per acre,the marginal response is 0.075 tonnes of wheat per acre.
C)Because point B is midway between point A and point C,the yield per acre is 0.075 tonnes of wheat when fertilizer applied is between 10 and 60 units per acre.
D)At point B,when fertilizer is applied at a rate of 30 units per acre,the yield is 0.075 tonnes per acre.
E)At point B,the marginal response to the application of 0.075 units of fertilizer is between 4 and 5 tonnes per acre.

Question

FIGURE 2-4 Refer to Figure 2-4.Suppose we draw a straight line tangent to point B of the non-linear function.The straight line has a slope of 0.075.What information is conveyed to us by this measurement?
A)At point B,the marginal response to the application of 30 units of fertilizer per acre is 0.075 tonnes of wheat. 
B)At point B,if one additional unit of fertilizer is applied per acre,the marginal response is 0.075 tonnes of wheat per acre. 
C)Because point B is midway between point A and point C,the yield per acre is 0.075 tonnes of wheat when fertilizer applied is between 10 and 60 units per acre. 
D)At point B,when fertilizer is applied at a rate of 30 units per acre,the yield is 0.075 tonnes per acre. 
E)At point B,the marginal response to the application of 0.075 units of fertilizer is between 4 and 5 tonnes per acre.

Quizplus · Accepted Answer

The slope of the tangent line at point B represents the marginal response, which is the amount by which the output (yield of wheat) changes when one additional unit of input (fertilizer) is applied. Therefore, option B is the correct choice. Option A is incorrect because it specifies an amount of fertilizer applied, whereas the marginal response is a change in output per unit of input. Option C is incorrect because it assumes a constant marginal response between points A and C, which may not be the case. Option D is incorrect because it specifies a particular rate of fertilizer application, whereas the marginal response applies to a change in input at any level. Option E is also incorrect because it assumes a specific amount of fertilizer applied, whereas the marginal response applies to a change in input at any level.