Formulate but Do Not Solve the Following Exercise as a Linear

question 5

Multiple Choice

Formulate but do not solve the following exercise as a linear programming problem. A farmer has 140 acres of land suitable for cultivating crops A and B. The cost of cultivating crop A is $30/acre, whereas that of crop B is $80/acre. The farmer has a maximum of $5,700 available for land cultivation. Each acre of crop A requires 30 labor-hours, and each acre of crop B requires 35 labor-hours. The farmer has a maximum of 4,800 labor-hours available. If she expects to make a profit of $130/acre on crop A and $230/acre on crop B, how many acres of each crop should she plant in order to maximize her profit?

• A) Maximize: Subject to:
• B) Maximize: Subject to:
• C) Maximize: Subject to:
• D) Maximize: Subject to:

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Definitions:

Price-inelastic

Referring to a situation where demand or supply for a good or service is relatively unresponsive to changes in price.

Total Revenue

The aggregate income a company generates from its sales of products or delivery of services over a designated period.

Price Falls

A decrease in the market price of a good or service, which can affect consumer demand, producer supply, and overall market equilibrium.

Price Elasticity

A measure of how much the quantity demanded or supplied of a good changes in response to a change in its price.