How much should the towns fishery charge for tuna

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Reference no: EM131010259

Assume that the demand for tuna in a small coastal town is given by

p = 700,000/q^1.5

where q is the number of pounds of tuna that can be sold in a month at p dollars per pound. Assume that the town's fishery wishes to sell at least 5,000 pounds of tuna per month.

(a) How much should the town's fishery charge for tuna in order to maximize monthly revenue?

(b) How much tuna will it sell per month at that price?

Reference no: EM131010259

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