A corporate agricultural organization has three separate farms which are to be used during the coming year. Each farm has unique characteristics which make it most suitable for raising one crop only....

A corporate agricultural organization has three separate farms which are to be used during the coming year. Each farm has unique characteristics which make it most suitable for raising one crop only. Table below indicates the crop selected for each farm, the annual cost of planting 1 acre of the crop, the expected revenue to be derived from each acre, and the fixed costs associated with operating each farm. In addition to the fixed costs associated with operating each farm, there are annual fixed costs of $75,000 for the corporation as a whole.

1. Determine the
   profit function
   for the three-farm operation.

1. What are the expected
   profits
   for the program if the board of directors has voted on the following planting program for the coming year; 1,000 acres will be planted at
   farm 1, 1,600 at
   farm 2
   and 1,550 at
   farm 3?