Elucidate how he should use information on the marginal

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Reference no: EM1326186

Marginal catch

In a particular region, there are two lakes rich in fish. The quantity of fish caught in each lake depends on the number of persons who fish in each according to Q1= 10N1-.1N1^2 and Q2=16N2-.4N2^2 where N1 and N2 denote the number of fishers at each lake. In all, there are 40 fishers.

Suppose N1=16 and N2=24. At which lake is the average catch per fisher great? In the light of this fact, how would you expect the fisher to re-deploy themselves?

How many fishers will settle at each lake? (HInt Find N1 and N2 such that the average catch is equal between the lakes?)

The commisinor of fisheries seek a division of fishers that will maximize tha total catch at two lakes. Explain how he should use information on the marginal catch at each lake to accomplish this goal. What division on the 40 fishers would you recommend?

Reference no: EM1326186

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