farmer has 8 hectares of agricultural land. The farmer will plant the land with rice and corn. 3 tons of rice can be harvested from 1 hectare of rice field, while 4 tons of corn can be harvested from 1 hectare of corn field. This farmer wants to get a yield of no less than 30 tonnes. If the cost of planting 1 hectare of rice field is 500 thousand and the cost of planting 1 hectare of corn field is 600 thousand. Then what is the minimum
farmer has 8 hectares of agricultural land. The farmer will plant the land with rice and corn. 3 tons of rice can be harvested from 1 hectare of rice field, while 4 tons of corn can be harvested from 1 hectare of corn field. This farmer wants to get a yield of no less than 30 tonnes. If the cost of planting 1 hectare of rice field is 500 thousand and the cost of planting 1 hectare of corn field is 600 thousand. Then what is the minimum
Chapter1: Making Economics Decisions
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Problem 1QTC
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A farmer has 8 hectares of agricultural land. The farmer will plant the land with rice and corn. 3 tons of rice can be harvested from 1 hectare of rice field, while 4 tons of corn can be harvested from 1 hectare of corn field. This farmer wants to get a yield of no less than 30 tonnes. If the cost of planting 1 hectare of rice field is 500 thousand and the cost of planting 1 hectare of corn field is 600 thousand.
Then what is the minimum cost that must be incurred by the farmer?
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