Planning to grow soybeans-corn and wheat in coming planting

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Reference no: EM131691433

Your farm encompasses 1000 acres, and you are planning to grow soybeans, corn, and wheat in the coming planting season. Fertilizer costs per acre are: $5 for soybeans, $2 for corn, and $1 for wheat. You estimate that each acre of soybeans will require an average of 5 hours of labor per week, while tending to corn and wheat will each require an average of 2 hours per week. Based on past yields and current market prices, you estimate a profit of $3,000 for each acre of soybeans, $2,000 for each acre of corn, and $1,000 for each acre of wheat. You can afford to spend no more than $6,000 on fertilizer, and your farm laborers can supply 6,000 hours per week. How many acres of each crop should you plant to maximize total profits?

soybeans __________ acre(s)

corn ___________ acre(s)

wheat _____________ acre(s)

In this event, will you be using all the available labor?

Yes OR No

Reference no: EM131691433

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