Farm Management农场经营.pptVIP

farm management chapter 7 Farm Management Chapter 7 Economic Principles Choosing Production Levels Chapter Outline Marginalism The Production Function How Much Input to Use How Much Output to Produce Applying the Marginal Principles Equal Marginal Principle Chapter Objectives To explain the concept of marginalism To show the relation between a variable input and an output by use of a production function To describe the calculation of average and marginal physical products To illustrate the law of diminishing returns To find the profit-maximizing point using the concepts of marginal value pro