A simple example Farmer Joe must determine how many acres of corn and wheat to plant this year. 1. An acre of wheat yields 25 bushels of wheat and requires 10 hours of labor per week. 2. An acre of corn yields 10 bushels of corn and requires 4 hours of labor per week. 3. All wheat can be sold at $4 a bushel and all corn can be sold at $3 a bushel. 4. Seven acres of land and 40 hours per week of labor are available. 5. Government regulations require that at least 30 bushels of corn be produced. 6. How can Farmer Joe maximize the total revenue? ?nac 34 Show transcribed image text A simple example Farmer Joe must determine how many acres of corn and wheat to plant this year. 1. An acre of wheat yields 25 bushels of wheat and requires 10 hours of labor per week. 2. An acre of corn yields 10 bushels of corn and requires 4 hours of labor per week. 3. All wheat can be sold at $4 a bushel and all corn can be sold at $3 a bushel. 4. Seven acres of land and 40 hours per week of labor are available. 5. Government regulations require that at least 30 bushels of corn be produced. 6. How can Farmer Joe maximize the total revenue? ?nac 34
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Answer to A simple example Farmer Joe must determine how many acres of corn and wheat to plant this year. 1. An acre of wheat yiel…