Appendix table IV 3. Marginal value products for selected resources with low 

 quality cows, $6.00 price of milk, various ratios of cows to cropland 

 and with and without sales of hay. 



Item 



10 



.15 



Ratio of cows to cropland 



.20 



50 



.40 



.45 



.50 



.55 



Hay .sales at ir'JT.OO ])er ton 



Cropland ($ acre) 



Dairy cow ($/head) 



Replacement ($/each) 



Buy hay (^i^/ton) 



Sell hay ($/ton) 



Marginal return 

 over feed costs 

 ($/cow) 



Marginal rate of 

 substitution of 

 cows for cropland 



323 



321 



321 



6.6 



321 



-6.6 



318 



-6.2 



2 89 



-3.7 



;67 



243 



—1.6 



150 



Cropland ($/acre) 



Dairy cows ($/head) 168 



Replacement ($/each) 320 



Buy hay ($/ton) 5 



Sell hay ($/ton) 8 



Marginal return 



over feed costs 387 



(f/oow) 



Marginal rate of 



substitution of ... 



cows for cropland 



387 



360 



1 •! •» 

 .JO.-J 



360 



3 48 



;0.9 —18. E 



337 



-11.6 



289 



-3.7 



267 



243 



.8 —1.6 



150 



77 



