1. A Kansas farmer owns 100 acres of land on which she plans to grow wheat and corn. Each acre of wheat requires 5 hours of labor and $20 of capital, and each acre of corn requires 4 hours of labor and $40 of capital. The farmer has at most 800 hours of labor and $2,400 of capital available. The profit from an acre of wheat is $80 and that from an acre of corn is $100. The farmer would like to determine how many acres of each crop she should plant to maximize her profit. To this end, she formulates this as a linear programming problem. a) [2 points] Introduce names for the necessary number of control parameters for this problem. b) [2 points] Give the objective function the farmer needs to maximize. c) [2 points] What constraint is imposed due to the labor limitation

Match each feature with the savings account type

If a product goes up in price, and the demand for it drops, that product's demand is a. elastic b. inelastic c. stable d. fixed select the best answer from the choices provided

The interaction of individual choices because a type of fish is on the verge of extinction, the government imposes rules that prohibit fishing in the publicly owned spawning grounds. at first owners of fshing bouts complain about this restriction on where they can fish, but soon they notice that the number of adult fish swimming outside the protected area is much higher than it was before. with the restriction, each fishing boat ends up catching more fish than it did before the r which of the following principles of economic interaction best describes this scenario? o there is a tradeoff between equality and efficiency o markets usually lead to efficiency. o when markets do not achieve efficiency,government intervention can improve overall welfare o markets allocate goodseffectively