A farm consists of 240 acres of land. The farmer plans to plant corn (x) and oats (y). Profit per acrein corn is $40 and in oats is $30. The number of labor hours is 320; where each acre of corn requires2 hours, and oats require 1 hour per acre. Determine the number of acres of corn and of oats thatshould be planted to maximize profit.Graph the feasible solution and find the corner points.1. How many corner points exist for the feasible solution?2. One corner point does NOT lie on the x or y axis, what is the x-value of this corner point?3. What is the maximum profit?Do NOT put a comma nor $ sign in youranswer for the thousands mark (i.e., use 2000 and NOT $2,000.00). You may round your answer tothe nearest dollar.32"F Cloudyype here to search

First, we will formulate the LP model. The decision variables are x (corn) and y (oats) The…

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Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

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Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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1. How many corner points exist for the feasible solution? 2. One corner point does NOT lie on the x or y axis, what is the x-value of this corner point?