Catching red stubble immediately cover their costs

Assignment Help Business Economics

Reference no: EM1315392

Q. The red stubble fishery near Vladivostok in the north Pacific has been operating for many yrs in an open access competitive manner. The average price of red stubble is about $8 per kilo also the fisher people's revenues for catching red stubble immediately cover their costs.

From fishery data we know which Q (catch) = (620 -E)E
also C (costs) = 360E, where E is the amount of fishing effort

Illustrate what is the open access amount of fishing effort supplied?
Elucidate how much red stubble is caught each yr?
Elucidate how much effort should be applied to maximize profits?

Reference no: EM1315392

Questions Cloud

The exact value of the indicated trigonometric function : The exact value of the indicated trigonometric function.

Reviewing and reporting microsoft security procedures : For every operating system, review the securities procedure involving, password protection, user account setting, files and folders privacy, and the network protection (this may not be a part of the operating system)

Xpect for wealthier countries to have cleaner environments : If summer's supposition is correct, then we should expect for wealthier countries to have cleaner environments other things equal.

Significant relationship between the two variables : Be certain to mention the direction of the relationship, the strength of the relationship, and whether our findings are statistically significant

Catching red stubble immediately cover their costs : The average price of red stubble is about $8 per kilo also the fisher people's revenues for catching red stubble immediately cover their costs.

Defining the decision rule : Define the decision rule. Calculate the value of the test statistic.

Describe decision making as to keep the stock : Describe Decision making as to keep the stock or sell the given stock and The news of the competitor's discovery has not been made public

Designing program : Write down a Program that lets the user enter an amount as a float value representing a total in the dollars and cents.

Is energy efficiency the same as economic efficiency : Is energy efficiency the same as economic efficiency? Explain. Under what circumstances would the energy-efficiency automobile described her be economic efficient?

User Account

All Pages