ps5_060319

ps5_060319 - Problem Set 5 1 Suppose you are the manager of...

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Unformatted text preview: Problem Set 5 1. Suppose you are the manager of a large farm cooperative that owns 80,000 acres of land north of the Delta and 120,000 acres of land south of the Delta. From the past you have experience growing Cotton, Wheat, Barley, Alfalfa, Tomatoes and Strawberries. Given your knowledge of these crops, you decided you will continue to only grow these crops. The file “ps5data” gives you the necessary production data for all of these crops. Note that for each crop you have four choices: (i) you can either grow it on the land north of the Delta or south of the Delta and (ii) you can use standard irrigation techniques or drip/sprikler irrigation systems that are more expensive but also need less water as the irrigation efficiency is higher. All of your fruits (tomatoes and strawberries) are sold to Dole. You are about to resign contracts with the managers of Dole who told you that the maximum amount of strawberries and tomatoes they will buy are 200,000 and 100,000 units respectively. The maximum amount of cotton you can sell to textile contractors is 50,000 units. There is no upper limit on all other crops....
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This note was uploaded on 08/01/2008 for the course ECON 162 taught by Professor Hanemann during the Spring '07 term at Berkeley.

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ps5_060319 - Problem Set 5 1 Suppose you are the manager of...

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