A cotton grower produces cotton for ginning and cotton seed. On his X acres, he produces...
A cotton grower produces cotton for ginning and cotton seed. On his X acres, he produces 20x^2 pounds of seed and 50x pounds of cotton. the price he receives for seed and cotton are $.625/pound and $1.00/pound, respectively. Assuming the total variable cost per acre is X^3 and his fixed cost is $250, what are the optimal acres to be planted to maximize profit and what will that profit be?
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A cotton grower produces cotton for ginning and cotton seed. On
his X acres, he produces...
A farmer is planning his spring planting. He has 20 acres on which he can plant...
A farmer is planning his spring planting. He has 20 acres on which he can plant a combination of Corn, Pumpkins and Beans. He wants to maximize his profit but there is a limited demand for each crop. Each crop also requires fertilizer and irrigation water which are in short supply. There are only 50 acre ft of irrigation available and only 8,000 pounds/acre of fertilizer available. The following table summarizes the data for the problem. Crop Profit per Acre...
A farmer owns 450 acres of land. He is going to plant each acre with wheat...
A farmer owns 450 acres of land. He is going to plant each acre with wheat or corn. Each acre planted with wheat yields $2000 profit, requires three workers and requires two tons of fertilizer. Each acre planted with corn yields $3000 profit, requires two workers, and requires four tons of fertilizer. There are currently 1000 workers and 1200 tons of fertilizer available. The farmer wants to maximize his profit from planting his land. a) Write the managerial formulation for...
Crop Acres 122 REVENUE Cotton Lint Cottonseed Total Revenue Quantity 1.250.00 0.89 Units Pound Ton S/Unit...
Crop Acres 122 REVENUE Cotton Lint Cottonseed Total Revenue Quantity 1.250.00 0.89 Units Pound Ton S/Unit $0.63 $165.00 Total $787.50 $146.44 393394 Quantity Units S/Unit Total 1250 39.0625 Pound CWT Acre Acre $0.08 $2.90 $4.75 $9.00 $100.00 $113 28 $4.75 $9.00 1 50 125 Pound Pound $0.64 $0.38 $32.00 $47.50 10. IMMIT 1 1 1 0.2 Acre Acre Acre Acre $9.50 $4.50 $25.00 $15.00 $9.50 $4.50 $25.00 $3.00 1 25 Acre Bale $12.00 $0.00 $12.00 $0.00 1 Acre $40.00 $40.00...
A farmer must decide how to allocate his 113 acres of land between corn, oats and wheat. It take...
A farmer must decide how to allocate his 113 acres of land between corn, oats and wheat. It takes 2.3 hours per acre to harvest corn, 1.5 hours per acre to harvest oats and 1.9 hours per acre to harvest wheat. He can work up to 205 on the harvest. Additionally, his water supply is limited to 600000 gallons per day and it takes 5300, 6000 and 6920 gallons per day at their peak to water an acre of...
A farmer has 400 acres of available land and $80,000 to spend He wants to plant the combination o...
Please show work using
matrices, thank you!
A farmer has 400 acres of available land and $80,000 to spend He wants to plant the combination of crops which 'maximizes his profit. Complete parts a. through c below Profits and Constraints for Crops Potatoes Corn X2 $128 $40 Cabbage Total Number of Acres Cost (per acre Profit (peracre a. Give tne auai propiem X400 $320 $120 $224 S80,000 $60 2 subject to 320y2 120 128y20 2242 60 with y120, y2 20...
A farm has rectangular shape as in following figure, where measurement shown that H = (150+N) m and W (250+N) m. The farm owner wants to grow olive trees in his farm. He decided to plant each oli...
A farm has rectangular shape as in following figure, where measurement shown that H = (150+N) m and W (250+N) m. The farm owner wants to grow olive trees in his farm. He decided to plant each olive tree with 3+N m2 space. Approximately, what is the maximum number of olive trees that can be planted in the farm? Discuss your solution(s). a) b) Suppose that the annual profit (in dollars) per olive tree follows the following function: Potirve (s)...
Q4: 3 marks A manufacturer has three machines I, Il and Il installed in his factory....
Q4: 3 marks A manufacturer has three machines I, Il and Il installed in his factory. Machines I and Il are capable of being operated for at most 12 hours whereas machine III must be operated for at least 5 hours a day. She produces only two items M and N each requiring the use of all the three machines. The number of hours required for producing 1 unit of each of M and N on the three machines are...
Solve the following LP problems using the Solver in MS Excel. Q1. A candy manufacturer has...
Solve the following LP problems using the Solver in MS Excel. Q1. A candy manufacturer has 130 pounds of chocolate-covered cherries and 170 pounds of chocolate-covered mints in stock. He decides to sell them in the form of two different mixtures. One mixture will contain half cherries and half mints by weight and will sell for $2.00 per pound. The other mixture will contain one-third cherries and two-thirds mints by weight and will sell for $1.25 per pound. How many...
competitive firm is the . 4. the vert Mive is atroduction. The short-run supply curve of...
competitive firm is the . 4. the vert Mive is atroduction. The short-run supply curve of ortion of its short-tun marginal cost curve that is competitive firm in the above its average variable cost curve, The o ward sloping an u petitive firm is the portion of its short-run marginal cost curve that supply curve of a Leuward-sloping and lies above its long-run average cost curve. Example: A firm has the long-run cost function cy) = 2y + 200 for...
1. Consumer’s utility function is: U (X,Y) = 10X + Y. Consumer’s income M is 40...
1. Consumer’s utility function is: U (X,Y) = 10X + Y. Consumer’s income M is 40 euros, the price per unit of good X (i.e. Px ) is 5 euros and the price per unit of good Y (i.e. Py) is 1 euro. a) What is the marginal utility of good X (MUx) for the consumer? ( Answer: MUx = 10) b) What is the marginal utility of good Y (MUy) for the consumer? ( Answer: MUy = 1) c)...
Crop Acres 122 REVENUE Cotton Lint Cottonseed Total Revenue Quantity 1.250.00 0.89 Units Pound Ton S/Unit $0.63 $165.00 Total $787.50 $146.44 393394 Quantity Units S/Unit Total 1250 39.0625 Pound CWT Acre Acre $0.08 $2.90 $4.75 $9.00 $100.00 $113 28 $4.75 $9.00 1 50 125 Pound Pound $0.64 $0.38 $32.00 $47.50 10. IMMIT 1 1 1 0.2 Acre Acre Acre Acre $9.50 $4.50 $25.00 $15.00 $9.50 $4.50 $25.00 $3.00 1 25 Acre Bale $12.00 $0.00 $12.00 $0.00 1 Acre $40.00 $40.00...
Please show work using
matrices, thank you!
A farmer has 400 acres of available land and $80,000 to spend He wants to plant the combination of crops which 'maximizes his profit. Complete parts a. through c below Profits and Constraints for Crops Potatoes Corn X2 $128 $40 Cabbage Total Number of Acres Cost (per acre Profit (peracre a. Give tne auai propiem X400 $320 $120 $224 S80,000 $60 2 subject to 320y2 120 128y20 2242 60 with y120, y2 20...
A farm has rectangular shape as in following figure, where measurement shown that H = (150+N) m and W (250+N) m. The farm owner wants to grow olive trees in his farm. He decided to plant each olive tree with 3+N m2 space. Approximately, what is the maximum number of olive trees that can be planted in the farm? Discuss your solution(s). a) b) Suppose that the annual profit (in dollars) per olive tree follows the following function: Potirve (s)...
Q4: 3 marks A manufacturer has three machines I, Il and Il installed in his factory. Machines I and Il are capable of being operated for at most 12 hours whereas machine III must be operated for at least 5 hours a day. She produces only two items M and N each requiring the use of all the three machines. The number of hours required for producing 1 unit of each of M and N on the three machines are...
competitive firm is the . 4. the vert Mive is atroduction. The short-run supply curve of ortion of its short-tun marginal cost curve that is competitive firm in the above its average variable cost curve, The o ward sloping an u petitive firm is the portion of its short-run marginal cost curve that supply curve of a Leuward-sloping and lies above its long-run average cost curve. Example: A firm has the long-run cost function cy) = 2y + 200 for...
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