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Question 1136382: A farmer is going to divide her 60 acre farm between two crops. Seed for crop A costs $20 per acre. Seed for crop B costs $40 per acre. The farmer can spend at most $2200 on seed.
If crop B brings in a profit of $190 per acre, and crop A brings in a profit of $110 per acre, how many acres of each crop should the farmer plant to maximize her profit?
Answer by ikleyn(52779) (Show Source):
You can put this solution on YOUR website! .
Let X = acres for A and Y = acres for B.
The farmer wants to maximize his profit
P(X,Y) = 110*X + 190*Y
under these restrictions
X + Y = 60,
20*X + 40*Y <= 2200,
X >= 0, Y >= 0.
The feasible domain is shown in the Figure below.
Plot X + Y = 60 (red) and 20X + 40Y = 2200 (green)
The feasibility domain is the quadrilateral in QI below the red and green lines.
Corner points of the quadrilateral (its vertices) are
P1 = (0,0)
P2 = (0,55) (y-intercept of the green line)
P3 = (10,50) (intersection point of red and green line).
P4 = (60,0) (x-intercept of the red line)
The values of the profit function in the corner points are:
P1: P( 0, 0) = 0
P2: P( 0,55) = 110*0 + 190*55 = 10450
P3: P(10,50) = 110*10 + 190*50 = 10600
P4: P(60,0) = 110*60 + 190*0 = 6600.
The maximal value of the profit function is achieved at the points P3.
It means that the optimal solution is 10 acres for A and 50 acres for B.
It gives the profit of 16000 dollars.
Solved.
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To see other similar problems solved by the Linear Programming method, look into the lesson
- Solving minimax problems by the Linear Programming method
in this site.
Also, look into the solutions of other similar problems in the archive to this forum under the links
https://www.algebra.com/algebra/homework/Coordinate-system/Coordinate-system.faq.question.1134444.html
https://www.algebra.com/algebra/homework/Graphs/Graphs.faq.question.1131906.html
https://www.algebra.com/algebra/homework/coordinate/word/Linear_Equations_And_Systems_Word_Problems.faq.question.1131043.html
https://www.algebra.com/algebra/homework/word/finance/Money_Word_Problems.faq.question.1129285.html
https://www.algebra.com/algebra/homework/Finance/Finance.faq.question.1128383.html
https://www.algebra.com/algebra/homework/Linear-equations/Linear-equations.faq.question.1123217.html
https://www.algebra.com/algebra/homework/playground/test.faq.question.1112482.html
https://www.algebra.com/algebra/homework/Finance/Finance.faq.question.1102103.html
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