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A farmer has 100 acres on which to plant oats

A farmer has 100 acres on which to plant oats

A farmer has 100 acres on which to plant oats or corn. Each acre of oats requires $18 capital and 2 hours of labor. Each acre of corn requires $36 capital and 6 hours of labor. Labor costs are $8 per hour. The farmer has $2100 available for capital and $2400 available for labor. If the revenue is $55 from each acre of oats and $125 from each acre of corn, what planting combination will produce the greatest total profit? (Profit here is revenue plus leftover capital and labor funds.) What is the maximum profit?

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Finite Mathematics and Its Applications

12th edition

Authors: Larry J. Goldstein, David I. Schneider, Martha J. Siegel, Steven Hair

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