[solution] »

A farmer in Georgia has a 100-acre farm on which to plant watermelons and cantaloupes. Every acre

Description

Answer Download

The Question

A farmer in Georgia has a 100-acre farm on which to plant watermelons and cantaloupes. Every acre planted with watermelons requires 50 gallons of water per day and must be prepared for planting with 20 pounds of fertilizer. Every acre planted with cantaloupes requires 75 gallons of water per day and must be prepared for planting with 15 pounds of fertilizer. The farmer estimates that it will take 2 hours of labor to harvest each acre planted with watermelons and 2.5 hours to harvest each acre planted with cantaloupes. He believes that watermelons will sell for about $3 each, and cantaloupes will sell for about $1 each. Every acre planted with watermelons is expected to yield 90 salable units. Every acre planted with cantaloupes is expected to yield 300 salable units. The farmer can pump about 6,000 gallons of water per day for irrigation purposes from a shallow well. He can buy as much fertilizer as he needs at a cost of $10 per 50- pound bag. Finally, the farmer can hire laborers to harvest the fields at a rate of $5 per hour. The farmer sells all the watermelons and cantaloupes he produces and would like to determine how many acres of each crop to plant in order to maximize profits. a) Formulate an LP model for this problem.

b) Implement the model in an Excel spreadsheet. What is the optimal solution?

c) Consider the following prices for the watermelons: (i) $2.75/unit, (ii) $2.50/unit,

(iii) $2.25/unit, (iv) $2.00/unit. Which price points (if any) would result in the

farmer maintain his planting strategy? Which price points (if any) should the

farmer respond by changing his planting strategy? Please explain your reasoning.

d) Suppose the farmer can lease up to 20 acres of land from a neighboring farm to

plant additional crops. How many acres should the farmer lease and what is the

maximum amount he should pay to lease each acre?

 

About this Question

STATUS

Answered

QUALITY

Approved

DATE ANSWERED

Oct 14, 2020

EXPERT

Tutor

ANSWER RATING

BEST TUTORS

We have top-notch tutors who can do your essay/homework for you at a reasonable cost and then you can simply use that essay as a template to build your own arguments.

You can also use these solutions:

• As a reference for in-depth understanding of the subject.
• As a source of ideas / reasoning for your own research (if properly referenced)
• For editing and paraphrasing (check your institution's definition of plagiarism and recommended paraphrase).

This we believe is a better way of understanding a problem and makes use of the efficiency of time of the student.

STUCK WITH YOUR PAPER?

Order New Solution. Quick Turnaround

Click on the button below in order to Order for a New, Original and High-Quality Essay Solutions. New orders are original solutions and precise to your writing instruction requirements. Place a New Order using the button below.

WE GUARANTEE, THAT YOUR PAPER WILL BE WRITTEN FROM SCRATCH AND WITHIN A DEADLINE.