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A farmer has 100 acres of land to plant tomatoes, radishes, and lettuce. She can sell tomatoes at $2.00 per lb., radishes at $2.00 per lb., and $1.00 for lettuce heads. The fertilizer costs are $50.00 for tomatoes and radish each and $25.00 for lettuce. A total of 400 man days of labor are available at $20.00 per man day. The other variable costs and labor costs are tabulated below.

                              Tomato         Radish           Lettuce

Price per lb

2

2

1

Yield per acre

2,000

1,000

3,000

Fertilizer cost

50

50

25

Labor days required

5

5

4

Formulate this problem as an LP model to maximize the profit. Also find the input demand function for labor and land constraints.

Microeconomics, Economics

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