In: Economics
Labor (hrs/acre) |
Cost ($/acre) |
Fertilizer (bags/acre) |
Yields (bu/acre) Prices ($/bushel) |
|
Plowing (pl) |
.75 |
4 |
||
Plant jalapenos (pj) |
.40 |
110 |
.70 |
|
Plant habaneros (ph) |
.45 |
75 |
.75 |
|
Plant poblanos (pp) |
.35 |
95 |
.70 |
|
Harvest jalapenos (hj) |
.30 |
20 |
100 |
|
Harvest habaneros (hh) |
.45 |
20 |
95 |
|
Harvest poblanos (hp) |
.40 |
30 |
85 |
|
Sell jalapenos (sj) |
$4.00 |
|||
Sell habaneros (sh) |
$3.00 |
|||
Sell poblanos (sp) |
$5.00 |
Assume that the different crops are planted according to the following variables:
Japapenos on x acres
Habaneros on y acres
Poblanos on z acres
Since the yield is: 100 bushels, 95 bushels and 85 bushels per acre for these crops and their prices are $4 per bushel, $3 per bushel and $5 per bushel, the objective function is
Maximize: $400x + $285y + $425z
(yield per acre times price per bushel times the quantity)
The 4 constraints are as follows:
1. Land: x + y + z <= 350
2. Labour: (0.75+0.40+0.30)x + (0.75+0.45+0.45)y + (0.75+0.35+0.40)z <=500
1.45x + 1.65y + 1.50z <= 500
Plowing 0.75 per acre for each crop + Planting for each crop + Harvesting for each crop
3. Fertilizer: 0.70x + 0.75y + 0.70z <= 300
4. Cost: ($4+110+20)x + ($4+75+20)y + ($4+95+30)z <= $45000
134x + 99y + 129z <= 45000
Plowing $4 per acre for each crop + Planting for each crop + Harvesting for each crop