Final answer:
To determine the cost-effectiveness, compare prices of premixed and individual nutrient components for 50 lb of 16-4-8 fertilizer.
Step-by-step explanation:
To determine if it's more cost-effective to apply premixed or individual components for 50 lb of 16-4-8 fertilizer, we need to compare the prices of the premixed fertilizer and the individual nutrient components.
For 50 lb of 16-4-8 fertilizer, it contains 8 lb of nitrogen (16% of 50 pounds), 2 pounds of phosphorus (4% of 50 pounds), and 4 pounds of potassium (8% of 50 pounds).
We need to calculate the total cost of the premixed fertilizer and the individual nutrient components to determine which option is more cost-effective.