Maggie and her family run a 600 acre farm in the Brazos Bottom. Her two crops are corn(x) and cotton(y). The farm’s revenue function is 280x +200y + 10x2 + 4y2 - 2xy. What is Maggie’s optimal crop mix and what will her total revenue be? What is the value of lambda? What does lambda mean for Maggie? If the average total costs are $2000 per acre, what is the farm’s total profit?
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Maggie and her family run a 600 acre farm in the Brazos Bottom. Her two crops are corn(x) and cotton...
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