Appendix table IV 2. Marginal value products for selected resources with low 

 quality cows, $5.00 price of milk, various ratios of cows to cropland 

 and with and without sales of hay. 



Item 



.10 



Ratio of cows to croplaiid 



.15 



.20 



^^\ 



.40 



.45 



Cropland ($/acre) 



Dairy cow f^'head) 



Replacement (.$'eacli) 



Buy hay ($/ton) 



Sell hay ($/ton) 



Marginal return 

 over feed co.st.s 

 (•?/cow) 



Marginal rate of 

 .sub.stitution of 

 cows for cropland 



Ratio sales at i}!27.00 per ton 



22 20 20 'JO 20 24 46 58 



69 61 5.1 41 41 :!8 31 



.020 320 320 320 320 320 320 350 



13 13 14 14 14 15 20 22 



27 27 27 27 27 27 38 45 



234 231 231 23 1 



20 174 150 



-2.1 



;.l —1.6 —0.68 



Hay .sales prohibited 



Cropland (!}!;acre) 



Dairy cow (|/head) 



Replacement (iji/each) 



Buy hay (|/ton) 



Sell hay (.$l/ton) 



JIarginal return 

 over feed costs 

 ($/cow) 



Marginal rate of 

 substitution of 

 cows for cropland 



299 299 



-15.0 



261 2 59 



6.4 —6.8 



i48 174 150 



-3.6 —0.68 



76 



