A farmer has 1000 acres of land on which he can grow corn, wheat, and soybean. The following table lists the cost of preparation for each acre, man-days of work required and profit yielded in $. The farmer has $100,000 for preparation and can count on 8000 man-days of work. How will the farmer allocate his land to get maximum profit?

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10th Edition
ISBN:9780470458365
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A farmer has 1000 acres of land on which he can grow corn, wheat, and soybean. The following table lists the cost of preparation for each acre, man-days of work required and profit yielded in $. The farmer has $100,000 for preparation and can count on 8000 man-days of work. How will the farmer allocate his land to get maximum profit?
Cost ($)
Work Days
Profit ($)
Corn
100
7
30
Wheat
120
10
40
Soybean
70
8
20
Transcribed Image Text:Cost ($) Work Days Profit ($) Corn 100 7 30 Wheat 120 10 40 Soybean 70 8 20
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