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A local government has five parcels of land and would like to rent these parcels to three different farmers. The profits for the three farmers when a different number of parcels are allocated are shown in the following table. The local government can get 20% revenue from each farmer's profit. Formulate and solve the DP problem that maximizes the profit for the local government.

 

Profit ($'000s)

 

Number of Parcels

Farmer A

Farmer B

Farmer C

0

0

0

0

1

32

65

45

2

70

102

63

3

90

110

110

4

120

110

120

5

140

120

122

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M91547335
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