Formulate but Do Not Solve the Problem. ​

question 142

Multiple Choice

Formulate but do not solve the problem. ​
The Johnson Farm has 500 acres of land allotted for cultivating corn and wheat. The cost of cultivating corn and wheat (including seeds and labor) is $43 and $22/acre, respectively. Jacob Johnson has $17,300 available for cultivating these crops. If he wishes to use all the allotted land and his entire budget for cultivating these two crops, how many acres of each crop should he plant? Let x be the number of acres allotted for cultivating corn.
​

• A) ​
• B) ​
• C) ​
• D) ​

---

Definitions:

Fixed Costs

Expenses that do not change with the volume of production or sales, such as rent or salaries.

Net Income

The amount of money left after subtracting all expenses, taxes, and costs from total revenue.

Variable Cost

A cost that varies depending on the level of output or activity, such as materials or labor costs in manufacturing.

Fixed Cost

A periodic cost that does not vary with production volume or sales.