Solve the linear programming model formulated in Problem 19 for the Bradley farm by using the computer.
Question:
a. The Bradleys have an opportunity to lease some extra land from a neighbor. The neighbor is offering the land to them for $110 per acre. Should the Bradleys lease the land at that price?
What is the maximum price the Bradleys should pay their neighbor for the land, and how much land should they lease at that price?
b. The Bradleys are considering taking out a loan to increase their budget. For each dollar they borrow, how much additional profit would they make? If they borrowed an additional $1,000, would the number of acres of corn and tobacco they plant change?
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Variable Value x 1 320000 x 2 90000 Shadow Constraint SlackSurplus Price c 1 0000 80000 c 2 0000 209...View the full answer
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