Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

One farm has 640 ha of land for growing peanuts and soybeans. In 1ha acres, peanuts make a profit of $ 60 and soybeans make

One farm has 640 ha of land for growing peanuts and soybeans. In 1ha acres, peanuts make a profit of $ 60 and soybeans make a profit of $ 80. It is known that 1ha peanut crops require 45h labor and cost $ 100 capital. For soybeans, it requires 60h labor and $ 80 capital. The farm estimates that it has a reserve workforce of 36,000 h and a capital of $ 60,000 per year. How much land should be allocated for each crop to get the maximum profit?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamentals Of Quality Control And Improvement

Authors: Amitava Mitra

4th Edition

1118705149, 978-1118705148

More Books

Students also viewed these General Management questions