Question: USE EXCEL SOLVER TO SOLVE! A farmer has 350 acres and plans to plant corn and soybeans. Each acre of corn costs $250 to plant,

USE EXCEL SOLVER TO SOLVE! USE EXCEL SOLVER TO SOLVE! A farmer has 350 acres

A farmer has 350 acres and plans to plant corn and soybeans. Each acre of corn costs $250 to plant, maintain and harvest while each acre of soybeans costs $140 to plant, maintain and harvest. The farmer has a crop loan of $70,000 available to cover costs. Each acre of corn will yield 100 bu. of corn, while each acre of soybeans will yield 45 bu. of soybeans. The farmer has contracted to sell the corn and soybeans for $3.00 per bu. and $6.00 per bu., respectively. However, the farmer must store both the corn and soybeans for several months after harvest in a storage facility which has a maximum capacity of 24,000 bu. The farmer wants to know how many acres of each crop to plant in order to maximize profit. Formulate this situation as an Excel linear programming model. (Do NOT solve) PS5 Docx

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