Question: Recall Farmer Berkman's Problem from class: Farmer Berkman must determine how many acres of soy and wheat to plant this year. An acre planted with

Recall Farmer Berkman's Problem from class:
Recall Farmer Berkman's Problem from class:
Recall Farmer Berkman's Problem from class:
Recall Farmer Berkman's Problem from class: Farmer Berkman must determine how many acres of soy and wheat to plant this year. An acre planted with soy seeds yields 10 bushels of soy and requires 4 hours of labor per week. An acre planted with wheat seeds yields 25 bushels of wheat and requires 10 hours of labor per week. All soy can be sold at $3 a bushel and all wheat can be sold at $4 a bushel. Seven acres of land and 40 hours of labor per week are available. In order to remain eligible for farm subsidies, at least 30 bushels of soy must be produced during the current year. How can we help Farmer Berkman determine the right crop mix? Which constraints are binding? Land constraint Labor constraint Farm subsidies constraint Neither What would Farmer Berkman prefer? O Increase of the minimum soy requirement O Decrease of the minimum soy requirement O Neither would make a difference for him

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