This preview shows page 1. Sign up to view the full content.
Unformatted text preview: ers should you stock if the expected selling price is $90/cwt and steers cost $495 each? Answer: 70 steers, since an additional steer costs $495, which equals the value of the marginal product generated by the added steer (rx = VMPx)...
View Full Document
This note was uploaded on 08/08/2008 for the course AAE 320 taught by Professor Mitchell during the Spring '08 term at Wisconsin.
- Spring '08