MacDonald opens an 800 acre farm to raise wheat, beef, and alfalfa. He is planning his activities
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MacDonald opens an 800 acre farm to raise wheat, beef, and alfalfa. He is planning his activities for the next year. Profit contribution from raising and selling wheat is $120/acre; profit contribution from raising and selling beef is $450/ton; alfalfa costs $7/ton to raise and sells for $22/ton. It takes 5 tons of alfalfa to raise 1 ton of beef. Alfalfa can also be bought in the market for $28/ton. The land and water requirements for wheat, beef and alfalfa, and the total availability of land and water are shown in the table below.
What decisions should MacDonald take to maximize his total profit? Solve this problem using the Excel solver
Related Book For
Quantitative Analysis for Management
ISBN: 978-0132149112
11th Edition
Authors: Barry render, Ralph m. stair, Michael e. Hanna
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