Computation of effect of hiring employees

Reference no: EM1312620

Oceanic Pacific Company has decided to conduct a series of experiments to determine the amount of tuna that could be caught with different crew sizes. The results of these experiments are as follows-

Crew Number	Daily Tuna Catch (kilograms)
0	0
1	50
2	110
3	300
4	450
5	590
6	665
7	700
8	725
9	710

Suppose an excess of tuna causes the price to fall to $2.75/kilogram. What effect would this have on the number of crew members used per boat? Suppose the price rose to $5.00/kilogram. What effect would this have on hiring crew members? Show your work.

Suppose that the company needs to keep up with demand which is estimated to be 1,000 kilograms/day. Given the preceding data, what should the company do to meet this demand?

Reference no: EM1312620

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