A farmer has 103 acres on which to plant oats or corn. Each acre of oats requires $18 capital and 2 hours of labor. Each acre of corn requires $36 capital and 6 hours of labor. Labor costs are $8 per hour. The farmer has $2100 available for capital and $2400 available for labor. If the revenue is $47 from each acre of oats and $103 from each acre of corn, what planting combination will produce the greatest total profit? (Profit here is revenue plus leftover capital and labor cash reserve.) What is the maximum profit?
A farmer has 103 acres on which to plant oats or corn. Each acre of oats requires $18 capital and 2 hours of labor. Each acre of corn requires $36 capital and 6 hours of labor. Labor costs are $8 per hour. The farmer has $2100 available for capital and $2400 available for labor. If the revenue is $47 from each acre of oats and $103 from each acre of corn, what planting combination will produce the greatest total profit? (Profit here is revenue plus leftover capital and labor cash reserve.) What is the maximum profit?
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter6: Systems Of Linear Equations And Inequalities
Section6.1: Graphing Systems Of Equations
Problem 59PFA
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A farmer has
103
acres on which to plant oats or corn. Each acre of oats requires $18 capital and 2 hours of labor. Each acre of corn requires $36 capital and 6 hours of labor. Labor costs are $8 per hour. The farmer has $2100 available for capital and $2400 available for labor. If the revenue is
$47
from each acre of oats and
$103
from each acre of corn, what planting combination will produce the greatest total profit? (Profit here is revenue plus leftover capital and labor cash reserve.) What is the maximum profit?Expert Solution
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