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    jabbahype's Avatar
    jabbahype Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Oct 4, 2014, 11:00 PM
    business equations
    A farmer is planning to cultivate chili, corn, and tobacco. He provides USD5,100 for plowing expenses, USD 6,025 for fertilizer and USD 4190 for other expenses. Below are the expediture (USD)per acre by type of crops:

    Chili Corn Tobacco
    Plowing 30 60 90
    Fertilizer 40 50 200
    Other expesnses 60 40 20

    Calculate the area planted with chili, corn and tobacco, if he uses all the resources.
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
    Ultra Member
    		  
    #2

    Oct 6, 2014, 05:43 AM
    What you are asking us to do is optimise the result so what you have to decide is what is the scarse variable
    30A+60B+90C = 5100
    40A+50B+200C=6025
    60A+40B+20C =4190

    it is obvious the greatest restriction is Tobacco

    but the missing variables are price and yield, what good is optimising planting without knowing the price and the yield?

    This problem has little to do with Business Planning and a great deal to do with Managerial Economics
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