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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?

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?

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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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 $100,000 for preparation and can count on 8000 man-days of work. How will the farmer allocate his land to get maximum profit?
Cost ($) Workdays Profit ($) Corn 100 7 30 Wheat 120 10 40 Soybean 70 8 20
Transcribed Image Text:Cost ($) Workdays Profit ($) Corn 100 7 30 Wheat 120 10 40 Soybean 70 8 20
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