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MMLU-Pro / 7593 / Suppose a farmer has just 2 acres of land. He finds from experience that these 2…

Problem

Answer published by the source. Consult the official source to check your work against its answer.

question

Suppose a farmer has just 2 acres of land. He finds from experience that these 2 acres are equally prolific in the production of corn and wheat. Specifically, he has found that each acre is capable of producing either 20 bushels of wheat or 20 bushels of corn. Suppose, too, that no matter how our farmer decides to apportion his 2 acres be-tween wheat and corn , his total costs of production remain at 25.Ifthepriceofcornis25. If the price of corn is 1 per bushel and that of wheat is $2 per bushel, what will the farmer do to maximize his profits?
Plain-text mathematical notation (without MathML)
Suppose a farmer has just 2 acres of land. He finds from experience that these 2 acres are equally prolific in the production of corn and wheat. Specifically, he has found that each acre is capable of producing either 20 bushels of wheat or 20 bushels of corn. Suppose, too, that no matter how our farmer decides to apportion his 2 acres be-tween wheat and corn , his total costs of production remain at 25.Ifthepriceofcornis1 per bushel and that of wheat is $2 per bushel, what will the farmer do to maximize his profits?
Original LaTeX notation
Suppose a farmer has just 2 acres of land. He finds from experience that these 2 acres are equally prolific in the production of corn and wheat. Specifically, he has found that each acre is capable of producing either 20 bushels of wheat or 20 bushels of corn. Suppose, too, that no matter how our farmer decides to apportion his 2 acres be-tween wheat and corn , his total costs of production remain at $25. If the price of corn is $1 per bushel and that of wheat is $2 per bushel, what will the farmer do to maximize his profits?

category

economics

options

  1. Lease the land to another farmer
  2. Plant all his land in wheat
  3. Use one acre for organic wheat and the other for genetically modified corn
  4. Plant 1.5 acres of wheat and 0.5 acres of corn
  5. Plant corn in the first year and wheat in the second year
  6. Plant all his land in corn
  7. Split his land equally between corn and wheat
  8. Plant alternating rows of corn and wheat in each acre
  9. Not plant anything
  10. Plant 1.5 acres of corn and 0.5 acres of wheat

src

stemez-Economics

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Source and history

upstream_id / Original problem ID
7593
task_id
6dd99774-75a4-5d11-a075-3ae165b214d0
task_key
default--test--7593
task_revision_id
1
config / split
default / test

Official source

initial import