Scenario 13-6
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 13-6.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

Scenario 13-6
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 13-6.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.

Quizplus · Accepted Answer

Farmer Jack experiences decreasing marginal product because the additional bags of seeds he plants result in fewer additional watermelons. This is reflected in the nonlinear production function, which shows that each additional unit of input (bag of seeds) does not lead to an equal increase in output (number of watermelons). The total cost curve is not mentioned in the scenario and therefore cannot be determined as linear or nonlinear.

Scenario 13-6 Farmer Jack Is a Watermelon Farmer. If Jack Plants No