Question

1)A farmer must decide what combination of seed, water, fertilizer, and pest control will be most profitable for the upcoming year. following table; The local agricultural college did a study of this farmer's situation and prepared the Plan Cost/acre (S) Income/acre (S) 575 1700 1950 2325 900 2100 2250 2600 List the plans in order of most desirable to least, and briefly explain why. (2 pts) 2) A start-up company is planning on manufacturing a new product. the quantity that can be sold depends on the selling price. can be sold decreases. Numerically, they estimate: Their sale department estimates that As the selling price increases, the quantity that P $65.00 0.03Q Where P selling price per unit, Q quantity sold per year On the other hand, management estimates that the average cost of manufacturing and selling the product will decrease as the quantity sold increases. They estimate: C $2.00Q + $7500 Where C cost to product and sell Q per year The company's management wishes to prodce and sell the product at the rate that will maximize profit, i.e where income cost will be a maximum. What quantity Q should the decision makes plan to produce and sell each year? (3 pts) (Hint: think back to how you would calculate of rates of change and maxima/minima, e.g. for velocity and acceleration, using formulae and equations)

Answer 1

Answer:

Question 1)

Plan	Cost/Acre	Income/acre	Profit/acre=Income - Cost
A	575	900	325
B	1700	2100	400
C	1950	2250	300
D	2325	2600	275

So on basis of Profit (Maximum profit to least profit) we can arrange the plans from most desirable to least desirable.

Plan

B

A

C

D