A Farmer has 20 hectares for growing barley and swedes. The farmer has to decide how much of each to grow. The cost per hectare for barley is R30 and for swedes is R20. The farmer has budgeted R480. Barley requires 1 man-day per hectare and swedes require 2 man-days per hectare. There are 36 man-days available. The profit on barley is R100 per hectare and on swedes is R120 per hectare. Find the number of hectares of cach cropthe farmer should sow to maximize profits. NB: DO NOT SOLVE, GIVE ONLY THE MATHEMATICAL FORMULA- TION FOR THIS PROBLEM.
Quadratic Equation
When it comes to the concept of polynomial equations, quadratic equations can be said to be a special case. What does solving a quadratic equation mean? We will understand the quadratics and their types once we are familiar with the polynomial equations and their types.
Demand and Supply Function
The concept of demand and supply is important for various factors. One of them is studying and evaluating the condition of an economy within a given period of time. The analysis or evaluation of the demand side factors are important for the suppliers to understand the consumer behavior. The evaluation of supply side factors is important for the consumers in order to understand that what kind of combination of goods or what kind of goods and services he or she should consume in order to maximize his utility and minimize the cost. Therefore, in microeconomics both of these concepts are extremely important in order to have an idea that what exactly is going on in the economy.
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