Answered step by step
Verified Expert Solution
Question
1 Approved Answer
EBID,anirrigationdistrictnearLasCruces,is: Cotton: Yield_c =0.53 0.000008*Lc. Alfalfa: Yield_a =10.88 0.000195*La. ThetermsYield_candYield_aareyieldsofcottonandalfalfa,respectively,intonsperacre. Theseyieldsareunknownuntilthe acreagebycropisknown. Thatis,youneedtosolvefor both. Totalwateruseperacreis: Wc=3.00acrefeetperacre. Sototalwateruseoverallacresofcottonis: Wc*Lc Wa=5.00acrefeetperacre. Sototalwateruseoverallacresofalfalfais: Wa*La Assumethattheupperboundonthetotalamountofthewaterresourceavailablefortheentiredistrictis: W=Wc*Lc+Wa*La=90,000acrefeet Arecentpriceforcotton(Pc)is$2700/ton,andforalfalfa(Pa)is$160/ton.Estimatedrecentcostsofproductionperacreforthe cropsareC_c=819andC_a=847.
EBID,anirrigationdistrictnearLasCruces,is: Cotton: Yield_c =0.53 0.000008*Lc. Alfalfa: Yield_a =10.88 0.000195*La. ThetermsYield_candYield_aareyieldsofcottonandalfalfa,respectively,intonsperacre. Theseyieldsareunknownuntilthe acreagebycropisknown. Thatis,youneedtosolvefor both. Totalwateruseperacreis: Wc=3.00acrefeetperacre. Sototalwateruseoverallacresofcottonis: Wc*Lc Wa=5.00acrefeetperacre. Sototalwateruseoverallacresofalfalfais: Wa*La Assumethattheupperboundonthetotalamountofthewaterresourceavailablefortheentiredistrictis: W=Wc*Lc+Wa*La=90,000acrefeet Arecentpriceforcotton(Pc)is$2700/ton,andforalfalfa(Pa)is$160/ton.Estimatedrecentcostsofproductionperacreforthe cropsareC_c=819andC_a=847. TotalEBIDareafarmincomefromthosetwocropsissummarizedbytheequation Y=(Pc*Yield_c-C_c)*Lc+(Pa*Yield_a-C_a)*La
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started