A B D E F G . I J 3 4 5 6 A farmer acquired 290 acres of land to grow wheat, barley and/or rye. The farmer has a budget of $50,000 and a workforce available of 6400 hours for the season. Costs, profits, and labor requirements are as follows: Cost ($/acre) Profit ($/acre) Labor (hours/acre) Wheat 122 45 12 Barley 185 82 18 Rye 146 61 16 7 8 9 10 11 12 13 The farmer has a contract to supply wheat to a local client for the equivalent of 45 acres of wheat production. Due to limited demand, a marketing study recommended that no more than 100 acres should be utilized for each product during the season. The objective is to determine the number of acres to grow wheat, barley and rye to maximize total profit given the constraints. 14 15 16 17 3 points Enter Formulation in yellow cells below 18 Objective Function 19 Subject to: 20 Constraint 1 21 Constraint 2 22 Constraint 3 23 Constraint 4 24 Constraint 5 25 Constraint 6 26 Constraint 7 27 Constraint 8 Set up the problem on a different sheet Solve the problem using SOLVER, making sure to generate the Answer Report and Sensitivity Report 28 29 1 point 30 31 1 point 32 33 1 point 34 35 1 point 36 37 38 How much is the total profit? The farmer is considering either buying more land or increasing his budget. What would you recommend? Buy more land