A Farmer Plans to Plant Two Crops, a and B

question 50

Essay

A farmer plans to plant two crops, A and B. The cost of cultivating crop A is $40/acre, whereas that of crop B is $60/acre. The farmer has a maximum of $7,400 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 3,300 labor-hours available. If he expects to make a profit of $100/acre on crop A and $140/acre on crop B, how many acres of each crop should he plant in order to maximize his profit?
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__________ acres of crop A, __________ acres of crop B
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What is the optimal profit? $ __________

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Definitions:

Corporate Social Responsibility

A business model that incorporates self-regulation into a company's business model to ensure its activities have a positive impact on society, the environment, and the economy.

Classical Writings

Historical documents, literature, and texts that have significantly influenced fields such as philosophy, literature, and science, often serving as foundational material in their respective areas.

Public Good

A product or service that is made available to all members of society and whose use by one individual does not diminish availability for others.

Behavioural Approaches

Psychological perspectives focusing on observable behaviors and the environmental determinants of response patterns.