Malik Davis is a soybean farmer. If he harvests his crop now, the yield will average 120 bushels…

Malik Davis is a soybean farmer. If he harvests his crop now, the yield will average 120 bushels of soybeans per acre and will sell for $0.48 per bushel. However, he knows that if he waits, his yield will increase by about 10 bushels per week, but the price will decrease by $0.03 per bushel per week.

a. If x represents the number of weeks Mr. Davis waits to harvest his crop, write and graph a function P(x) to represent his profit.

b. How many weeks should Mr. Davis wait in order to maximize his profit?

c. What is the maximum profit?

d. What are the risks of waiting?

 

 

 

 

 

 

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