Final answer:
To calculate the average production of grain per acre, divide the total harvested bushels by the number of acres farmed. In this case, it's 8000 bushels divided by 50 acres, resulting in an average of 160 bushels per acre. This reflects a farmer's decision influenced by market trends and crop yields, such as choosing to plant corn instead of wheat due to higher yields and converging prices.
Step-by-step explanation:
The student's question is asking to calculate the average production of grain per acre. To find this, we divide the total bushels of grain harvested by the number of acres. In this case, the farmer harvested 8000 bushels of grain from 50 acres.
Following the formula for average:
Average = Total Quantity / Number of Units
We calculate:
Average = 8000 bushels / 50 acres = 160 bushels per acre.
This result indicates that, on average, each acre of the farm produced 160 bushels of grain. Now, inset into wider industry trends, we can consider the context of converging prices which may influence farmers to shift their planting decisions. For instance, if there is a significant price advantage, farmers might be inclined to grow more corn, especially considering that corn typically yields more bushels per acre compared to wheat.
The historical and economic context also plays a role. For example, the diversification of crops such as the shift from wheat to corn in regions like North Dakota's upper Midwest, known historically as 'King Wheat', is often influenced by changes in market prices and agricultural technology advancements. This adaptability can significantly impact the total production and efficiency of farms.