A Farmer Has 150 Acres of Land Suitable for Cultivating

question 4

Multiple Choice

A farmer has 150 acres of land suitable for cultivating crops A and B. The cost of cultivating crop A is $40/acre and that of crop B is $60/acre. The farmer has a maximum of $7,800 available for land cultivation. Each acre of crop A requires 20 labor-hours, and each acre of crop B requires 25 labor-hours. The farmer has a maximum of 3,200 labor-hours available. He has also decided that he will cultivate at least 60 acres of crop A. If he expects to make a profit of $170/acre on crop A and $220/acre on crop B, how many acres of each crop should he plant in order to maximize his profit?

• A) The farmer should plant 60 acres of crop A and 80 acres of crop B to realize a maximum profit of $27,800.
• B) The farmer should plant 110 acres of crop A and 40 acres of crop B to realize a maximum profit of $27,500.
• C) The farmer should plant 60 acres of crop A and 0 acres of crop B to realize a maximum profit of $25,500.

Identify the criteria for the enforcement of specific performance as a remedy.

Analyze and interpret the effect of statutory consumer protections on sales agreements.

Evaluate the applicability and enforcement of warranties in various sales contexts, including between merchants and non-merchants.

Understand the concept of commission and how it is calculated based on sales or gradated scales.

---

Definitions:

Target Profit

The amount of net income that a company aims to achieve within a specific time frame.

Fixed Expenses

Costs that remain constant for a given period of time regardless of the level of production or business activity.

Variable Expenses

Costs that vary directly and proportionally with the level of output or sales volume.

Increased Advertising

A strategy involving the amplification of efforts in promoting products or services to boost brand visibility and sales.