AGRICULTURAL ECONOMICS 



cents is all he need pay, and this will leave him a 

 net return of seven dollars and fifty cents which 

 is fifteen cents better than he could do on the 5th 

 grade land. To secure the same net return on 

 3d grade land, the D grade farmer cannot bid 

 over three dollars and seventy cents for its use. 

 But the C grade farmer whose net return on 4th 

 grade land, at a rent of two dollars and thirty 

 cents, would be eight dollars and ninety cents, can 

 secure the same net return from 3d grade land 

 after paying three dollars and ninety cents rent 

 for its use, so that it will be profitable for him to 

 outbid the D grade farmer for 3d grade land by 

 offering three dollars and seventy-five cents. 

 This leaves the C grade farmer a net return of 

 nine dollars and five cents, and to secure the same 

 net return from 2d grade land he can pay no more 

 than five dollars and thirty-five cents as rent for 

 2d grade land. But the B grade farmer can as 

 well afford to pay five dollars and fifty-five cents 

 for 2d grade as to pay three dollars and seventy- 

 five cents for 3d grade, and we may assume, there- 

 fore, that he will outbid the C grade farmer by 

 offering five dollars and forty cents for the use of 

 the 2d grade land. This would leave the B grade 

 a net return of ten dollars and eighty cents. He 

 could pay seven dollars and twenty cents for ist 

 grade land, and secure the same net return; but 

 the A grade farmer could pay anything, less than 

 seven dollars and forty cents, rather than use any 



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