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please answer all and show working Suppose a farmer has 17.25 acres of land. He can use the available acreage to grow wheat and/or com.
please answer all and show working
Suppose a farmer has 17.25 acres of land. He can use the available acreage to grow wheat and/or com. Planting and harvesting wheat will cost the farmer $3/acre, whereas planting and harvesting corn will cost him $5/acre. If the farmer allocates x acres to plant wheat, the revenue generated from selling wheat is *(30 - x) dollars. If he allocates y to plant com, the revenue generated from selling corn is y(50-y). The farmer wants to maximize his total net revenue. How many acres of land should be allocated to planting wheat? How many acres of land should be allocated to planting corn? What is the value of the Lagrange multiplier? How to interpret the Lagrange multiplier Step by Step Solution
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