3. (15 pts) Aggie Farms has two farms that can grow wheat and corn. The two farms have different topography and soil typ

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3 15 Pts Aggie Farms Has Two Farms That Can Grow Wheat And Corn The Two Farms Have Different Topography And Soil Typ 1 (43.47 KiB) Viewed 24 times

3. (15 pts) Aggie Farms has two farms that can grow wheat and corn. The two farms have different topography and soil types so they have different yields and costs. These are given in the table. Each farm has 100 acres. They must grow 50,500 bushels of wheat and 32,500 bushels of corn to meet their contracts. Corn yield Corn cost Wheat yield wheat cost Farm 1 500 100 350 60 Farm 2 350 120 450 80 a) Write out the standard format for the problem. (4 pts) +90 +80 Min cost-100 + 120 350 + 450 = 50,500 500 + 350 232500 b) What is the crop mix that minimizes cost? What is the minimum cost? (3 pts) What does the cost of corn production on farm 2 have to be before they plant there? Why? (4 pts) d) What is the shadow price of the wheat constraint? What does this mean? (4 pts)