A farmers’ coop has 6000 ha available on which to plant maize and Bambara nuts. The following table summarises each crops requirements for fertilizer/herbicides, harvesting labour hours and the available amounts of these resources. Maize Bambara nuts Available resources Fertilizer/herbicide 9l/ha 3l/ha 40500l Harvesting labour 0.75hr/ha 1hr/ha 5250hr If the coops profits are N240/ha for maize and N$160/ha, using simplex method, how many ha of each crop should the coop plant i. To maximize profit (16) ii. How much is the profitÂ
Why does government impose price ceiling and price floor on certain commodities ? Who are the beneficiaries of both.