MacDonald opens an 800 acre farm to raise wheat, beef, and alfalfa. He is planning his activities for the next year. Profit contribution from raising and selling wheat is $120 /acre; profit contribution from raising and selling beef is $450 /ton; alfalfa costs $7 / ton to raise and sells for $22 / ton. It takes 5 tons of alfalfa to raise 1 ton of beef. Alfalfa can also be bought in the market for $28 /ton. The land and water requirements for wheat, beef and alfalfa, and the total availability of land and water are shown in the table below. The decision variables for MacDonald to maximize his total profit are given by: WBARABAS=====acresoflandusedtoraiseandsellwheattonsofbeefraisedandsoldtonsofalfalfaraisedtonsofalfalfaboughttonsofalfalfasold a) (10 points) Write down the objective function and the constraints: -) Excel Answer Report: Target Cell (Max) Adiustable Cells -) Excel Sensitivity Report Adiustable Cells Constraints b) (5 points) What is the optimal solution and the optimal profit? c) (5 points) How much should MacDonald pay to acquire another acre-ft of water? d) (5 points) What happens to the optimal plan if the profit from wheat triples (\$360/acre)? What happens to the optimal profit? e) (5 points) MacDonald can lease another plot of land (50 acres). How much would the profit increase if he leases this land? Would he need more than 1000 acre-ft of water to use the additional land