Scenario 13-15
Farmer Jack is a watermelon farmer. If Jack plants no seeds on his farm, he gets no harvest. If he plants 1 bag of seeds, he gets 30 watermelons. If he plants 2 bags of seeds, he gets 50 watermelons. If he plants 3 bags of seeds he gets 60 watermelons. A bag of seeds costs $100, and the costs of seeds are his only costs.
-Refer to Scenario 13-15.Which of the following statements is (are)true?
(i)Farmer Jack experiences decreasing marginal product.
(ii)Farmer Jack's production function is nonlinear.
(iii)Farmer Jack's total cost curve is linear.

Question

Quizplus · Accepted Answer

(i) is true because Farmer Jack's marginal product decreases as he increases the number of seed bags planted. 
(ii) is true because his production function is not linear since he gets different amounts of watermelons depending on the number of seed bags planted (30, 50, or 60). 
(iii) is false because his costs are not linear since he has to pay for each additional bag of seeds.

Scenario 13-15 Farmer Jack Is a Watermelon Farmer. If Jack Plants No