THE PROPORTIONS OF THE FACTORS OF PRODUCTION 1 53 



fields, A and B, if he followed his own highest economic interest? 

 To what degree of intensity if he followed the highest economic 

 interest of the landlord? Explain fully how society as a whole 

 would lose in either case. 



(4) When maize is worth 35 cents per bushel and the rent which 

 must be paid for the use of the land in Field A is $5.00 per acre, what 

 is the highest rent which the farmer could afford to pay for the use 

 of the land in Field B ? 



(5) How would a rise of 20 per cent in the cost of labor and capital- 

 goods affect the above problems ? 



(6) How would the second problem (2) be affected if the price of 

 corn should rise to 40 cents per bushel and the rent should at the 

 same time rise to $4.00 ? 



(7) How would problem three (3) be affected if the landlord should 

 agree to take twelve and one-half bushels of maize per acre instead 

 of one-third of the crop ? 



3 . In order to ascertain the optimum amount of acid phosphate to 

 put upon a corn field which is known to lack phosphate, the follow- 

 ing varying quantities were applied per acre with the corresponding 

 results : 



50 lb. yielded an increase of 2 bushels per acre 

 100 lb. yielded an increase of 5 bushels per acre 

 150 lb. yielded an increase of 7§ bushels per acre 

 200 lb. yielded an increase of 9^ bushels per acre 

 250 lb. yielded an increase of n bushels per acre 

 300 lb. yielded an increase of 12 bushels per acre 

 350 lb. yielded an increase of 12I bushels per acre 

 400 lb. yielded an increase of 12^ bushels per acre 



The cost of the fertilizer is 1 cent per lb., to be paid for when corn 

 is in crib. 

 The cost of application is 50 cents per acre. 

 The cost of gathering corn is 3 cents per bushel. 

 The value of corn in the crib is 63 cents per bushel. 

 Determine optimum application of acid phosphate. 



