HORTICULTURE SCIENCE
GENERAL AGRICULTURE
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Question
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What was Von Thunen’s Formula?
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Profit= Market Price/Production Cost
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Profit=Production Costs-Market Price
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Profit= Market Price-Production Costs
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Profit= Rent from land-transportation
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Explanation:
Detailed explanation-1: -Solution equation: Net Profit = Output/Acre (Market Returns-Production Costs)-(Distance * Transportation Costs) Assumptions: The city is located centrally within an “Isolated State.” There is a homogeneous physical environment, including a uniform plain around the city.
Detailed explanation-2: -The von Thunen’s location theory or model states that if environmental variables are held constant, then the farm product that achieves the highest profit will outbid all other products in the competition for location.
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