Alex R. answered 01/13/23
4th year Medical Student, >90% MCAT, PASSED both USMLE 1 and 2
Hey Alaina!
The key to this tricky question is to think about the definition of profit! Profit = Revenue (how much money the farmer will make) - Cost (how much the farmer paid for the seed).
Therefore:
-Planting 1 acre of crop B will lead to: profit = $270-$50 = $220
-Planting 1 acre of crop A will lead to: profit = $140-$25 = $115
-The farmer will profit $105 more for every acre they plant crop B than they will for crop A
We know the farmer can spend $1500 on seed, so $1500/$50=30 acres of crop B to maximize their profit.
However, this plan would leave 20 acres of the land unused. If the farmer wanted to utilize all of the land regardless of profit, they would spend $1000 for 40 acres of crop A and $500 for 10 acres of crop B to use all 50 acres of land. This would of course not profit as much as only planting crop B.
Hope this is helpful!
Peter R.
01/13/23