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You have a 5 acre organic truck farm that produces vegetables to sell at the local farmer's market. You pay a local high school student
You have a 5 acre organic truck farm that produces vegetables to sell at the local farmer's market. You pay a local high school student $11 an hour to help you, mainly with weeding. You need to decide how to allocate your employee's time to maximize profits. Below is a table showing the marginal value product of each successive hour of weeding for three crops: Hours Weeding First hour Second hour Third hour Fourth hour Marginal Value Products of Labor Beets Potatoes Garlic $20 $13 $25 $15 $12 $15 $10 $10 $10 $5 $5 $8 a. If she can work 4 hours, how should she allocate her time? b. If she is able to work as many as 10 hours, how many hours will you have her weed? Briefly explain your decision. You have a 5 acre organic truck farm that produces vegetables to sell at the local farmer's market. You pay a local high school student $11 an hour to help you, mainly with weeding. You need to decide how to allocate your employee's time to maximize profits. Below is a table showing the marginal value product of each successive hour of weeding for three crops: Hours Weeding First hour Second hour Third hour Fourth hour Marginal Value Products of Labor Beets Potatoes Garlic $20 $13 $25 $15 $12 $15 $10 $10 $10 $5 $5 $8 a. If she can work 4 hours, how should she allocate her time? b. If she is able to work as many as 10 hours, how many hours will you have her weed? Briefly explain your decision
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