Appendix table IV 8. Marginal value products for selected resources with high 

 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 cropland 



.15 



.2 



.25 



.30 



.35 



.40 



.45 



Cropland ($/aere) 



Dairy cow ($/head) 



Replacement (l/ench) 



Buy hay ($/ton) 



Sell hay ($/ton) 



M.Trginal return 

 over feed costs 

 ($/cow) 



Marginal rate of 

 .substitution of 

 cows for cropland 



34G 



342 



J.l —8.5 



Hay sales at $27.00 per ton 



338 



-8.2 



338 



325 



269 



-7.5 —6.1 



239 



2.7 —1.5 



150 



Hay sales prohibited 



Marginal rate of 

 substitution of 

 cows for cropland 



-29.8 -22.3 —21.4 —2.7 —1.5 



82 



