Solve dp problem that maximizes profit for local government

Assignment Help Microeconomics
Reference no: EM13878820

A local government has five parcels of land and would like to rent these parcels to three different farmers. The profits for the three farmers when a different number of parcels are allocated are shown in the following table. The local government can get 20% revenue from each farmer's profit. Formulate and solve the DP problem that maximizes the profit for the local government.

 

Profit ($'000s)

 

Number of Parcels

Farmer A

Farmer B

Farmer C

0

0

0

0

1

32

65

45

2

70

102

63

3

90

110

110

4

120

110

120

5

140

120

122

Reference no: EM13878820

Questions Cloud

Create a swot analysis : Create a SWOT Analysis for each of the two chosen companies change plans/programs, utilizing information obtained in the diagnosis. (Strengths, Weaknesses, Opportunities, Threats.)
Calculate the amount of spare capacity available next month : Calculate the amount of spare capacity available next month. Discuss three limitations of linear programming. Calculate the shadow price of STX2 and explain how Jane may use it.
Evaluate the impact of globalization and management across : Evaluate the impact of globalization and management across borders
Determine the equivalent force-couple system : A 25-lb force acting in a vertical plane parallel to the yz plane is applied to the 8-in.-long horizontal handle AB of a socket wrench. Replace the force with an equivalent force-couple system at the origin O of the coordinate system.
Solve dp problem that maximizes profit for local government : A local government has five parcels of land and would like to rent these parcels to three different farmers. The profits for the three farmers when a different number of parcels are allocated are shown in the following table.
A project requires an investment in machinery : A project requires an investment in machinery today of $25 million. That investment can be depreciated for tax purposes straight-line to zero over 5 years. Starting one year from now and ending 4 years from now, the project will generate annual reven..
How coding could threaten data integrity : Can you give an example of how coding could threaten data integrity? 100 words
Problem regarding the second cable cad : A 2000-N load Q is applied to the pulley C, which can roll on the cable ACB. The pulley is held in the position shown by a second cable CAD, which passes over the pulley A and supports a load P. Determine
Era of cutback management : Using about 250 words, In this era of "cutback management" and decreasing budgets, what specific strategies have agencies utilized to manage debt?Which have been most successful? Why?

Reviews

Write a Review

Microeconomics Questions & Answers

  What will happen to the equilibrium price of wooden toothpic

Assume the market for wooden toothpicks is competitive. Earlier this week, in a nationally published study, 4 out of 5 dentists enthusiastically endorsed the benefits of toothpicking for dental health

  Find the price at which output is sold in a nash equilibrium

Find the price at which output is sold in a Nash equilibrium and show that this price decreases as n increases as the number of firms increases without bound.

  Equitable doctrine of promissory estoppels

Require an example of the equitable doctrine of promissory estoppels, and describe why this example meets the requirements of promissory estoppels.

  Explain each of companies organizational structure in detail

Research a large Korean firm like Samsung and its chief European rival Philips. Why do their structures differ so much? Explain each of the companies’ organizational structure in details. Compare and contrast the structure and explain why

  Pp nbsp nbspnbsp

price nbsp nbsp nbsp nbsp nbspnbsp quantity

  Examining output and price relationship

Compute the industry price necessary for firm to supply 10,000, 20,000, and 30,000 pounds. Compute the quantity supplied by the firm at industry prices of $1.50, $2.50, and $3.50 per pound.

  Critically analyze the effectiveness of various approaches

i critically examine the effectiveness of various approaches that may be used to reduce macroeconomic instability. your

  Which the money supply can be increased as a result

Yesterday Bank A had no excess reserves. Today it received a new deposit of $4,000. What is the maximum amount by which the money supply can be increased as a result of Bank A's new loan?

  Was there too much focus on the macro climate

Was there too much focus on the macro climate and not enough on the micro climate? Do you concur more with Krugman or Giraud?

  Determining expected market price-profits

You're the manager of the firm that sells a commodity in market that resembles perfect competition, and your cost function is C(Q)=Q+2Q^2. Compute the expected market price.

  Is the utility function monotonic?

Is the utility function monotonic?

  Aticle analysisinstructionsread the article titled

article analysisinstructionsread the article titled christmas egg shortage expected after bird flu outbreak by jared

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd