One farmer can grow 1,500 bushels of corn on 2 acres of land with 300 hours of l

Question

One farmer can grow 1,500 bushels of corn on 2 acres of land with 300 hours of labor and 25 pounds of seed. Another farmer can grow 1,500 bushles of corn on 2 acres of similar land with 200 hours of labor and 25 pounds of seed. a. Could both methods be technically efficient? No because the first farmer can produce the same amount of corn with fewer inputs No, because the second farmer can produce the same amount of corn with fever inpus yes, because many different Production Processes can be technically efficient No because both farmers are Using too much labor to Produce earn. b. Is it possible that both of these Production Processes are economically efficient? no, because both farmers are spending ice much on seed. No, because the first farmer uses more social inputs than the second farmer. Yes, because the answer depends on the cost of each input No, because the second farmer uses more total inputs than the first farmer

Explanation / Answer

a. Yes because different production processes can be technologically efficient

b. No, Because the first farmer uses more total inputs then the second farmer.

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