Explain how many fish should a commercial fisherman try

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Q. the price elasticity of demand for Pete's chocolate chip cookies is 1.5. Pepe wants to increase his total revenue. Would you recommend that Pete raise or lower his price of cookies?

Q. Explain how many fish should a commercial fisherman try to catch a day? Should he catch as many as possible or return to dock before filling the boat with fish? Under whar economic circumstances should he not even take the boat?

Reference no: EM1354504

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