A farm is able to produce 5,000 bushels of peaches per season on 100 acres. Assume it adds one more acre and is able to produce 6,000 bushels per season. The marginal product of the additional acre of land for this farm is:

Question

Quizplus · Accepted Answer

The marginal product of the additional acre of land can be calculated by taking the difference between the total output with 101 acres (6,000 bushels) and the total output with 100 acres (5,000 bushels), which is 1,000 bushels. Therefore, the marginal product of the additional acre of land is 1,000 bushels per acre per year.

A Farm Is Able to Produce 5,000 Bushels of Peaches