A private fisher has the exclusive right to fish in an area. The fish is sold in a competitive market. The marginal revenue (MR) function is: MR = 1700-300*X Where X is the fishing effort The marginal cost (MC) function is: MC = 500 + 200*X Where X is the fishing effort. What is the profit maximising effort of the fisher? Vælg én svarmulighed O 2.40 O 4.4 O 3.10 O 1.70
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- Suppose that the fish processor could use a different production method that involves recycling water. This would reduce the pollution in the lake to levels safe for recreation, and the boat tour would no longer be affected. If the fish processor uses the recycling method, then the fish processor's economic profit is $1,300 per week, and the boat tour's economic profit is $1,900 per week. If the fish processor does not use the recycling method, then the fish processor's economic profit is $1,600 per week, and the boat tour's economic profit is $1,100 per week. These figures are summarized in the following table. Complete the following table by computing the total profit (the fish processor's economic profit and the boat tour's economic profit combined) with and without recycling. Action Profit Fish Processor Boat Tour Total (Dollars) (Dollars) (Dollars) No Recycling 1,600 1,100 Recycling 1,300 1,900 Total economic profit is highest…Suppose that the fish processor could use a different production method that involves recycling water. This would reduce the pollution in the lake to levels safe for recreation, and the water park would no longer be affected. If the fish processor uses the recycling method, then the fish processor's economic profit is $1,100 per week, and the water park's economic profit is $2,600 per week. If the fish processor does not use the recycling method, then the fish processor's economic profit is $1,800 per week, and the water park's economic profit is $1,500 per week. These figures are summarized in the following table. Complete the following table by computing the total profit (the fish processor's economic profit and the water park's economic profit combined) with and without recycling. Profit Fish Processor Action (Dollars) Water Park (Dollars) Total (Dollars) No Recycling Recycling 1,800 1,500 1,100 2,600 Total economic profit is highest when the recycling production method is $1,500…Suppose that the fish processor could use a different production method that involves recycling water. This would reduce the pollution in the lake to levels safe for recreation, and the water park would no longer be affected. If the fish processor uses the recycling method, then the fish processor's economic profit is $1,000 per week, and the water park's economic profit is $2,600 per week. If the fish processor does not use the recycling method, then the fish processor's economic profit is $1,700 per week, and the water park's economic profit is $1,500 per week. These figures are summarized in the following table. Complete the following table by computing the total profit (the fish processor's economic profit and the water park's economic profit combined) with and without recycling. Action Profit Fish Processor Water Park Total (Dollars) (Dollars) (Dollars) No Recycling 1,700 1,500 Recycling 1,000 2,600 Total economic profit is…
- Side 1 A report shows that the catch of a fish stock can be increased. The fishing authority wishes to subsidise the effort, so that the fisher's effort is 3.5. The fishers marginal revenue (MR) function is: MR = 1700 -300*X Where X is the fishing effort The fisher's marginal cost (MC) function is: TC = 500 + 200*X Where X is the fishing effort. How much should the subsidy per effort be, so that the fisher's effort is 3.5? Vælg én svarmulighed O 550 O 700 O 600 O 6501 Mario owns a wood-fired pizza shop which imitates traditional Italian methods. She uses a unique sauce that attracts a loyal following of customers. The demand for her pizzas is q = 1650 – 250p, and her costs are TC 0.72+0.0035q. q is the number of pizzas sold per week, TC(q) is Maria's weekly total cost, and p is the price of a pizza. a) What price and output will Maria choose to maximize profits? b) Maria returns to college and asks her cousin Victor to manage her pizza business. Victor faces the same demand and cost conditions as Maria, but he decides to maximize revenue. What price and output should he choose?Suppose that Katy sells egg rolls. The total cost of production, based on the number of egg rolls produced, is shown in the following table. Number of egg rolls 1 2 3 4 5 6 7 Total cost (5) 8 10 13 18 25 34 45 Suppose that the price is $6. Assuming profit maximization, how many egge will Katy sell?
- 1. Mzanzi-Ndizvo (Pty) is a vaccine manufacturing company that has the following costs ofproduction. Cost of capital is R50 000, labour cost is R30 000, and the total cost the firm is willing to pay is R300,000. Identify the type of this production function and Illustrate it with a 2D graph. 2. If the demand and supply curve for cell phones is given by: D = 80 - 4P, S = 40 + 6P In a market with a price of P for smartphones, compute the number of phones that would be bought and sold at equilibrium.Round off your final answer to whole #. A company produces and sells a consumer product and is able to control the demand by varying the selling price. The approximate relationship between price and demand is 2700 5,000 p=47 + -forD>1 D D² The company is seeking to maximize its profit. The fixed cost is $1,000 and the variable cost is $39 per unit. What is the number of units that should be produced and sold each month to maximize profit?Solve the problem. The profit in dollars from the sale of x thousand compact disc players is P(x)= x3 - 10x2+ 2x + 9. Find the marginal profit when the value of x is 12. $194 $405 O $396 O $203 0年C ASUS f4 E3 f5 f6 f7 f8 f9 f10 O/京 团 4 5 6. 7 8. 9.
- Five fishermen live in a village and have no other employment or income earning possibilities besides fishing. They each own a boat that is suitable for fishing, but does not have any resale value. Fish are worth $5 per pound and the marginal cost of operating the boat is $500 per month. They all fish in a river next to the village, and they have determined that when there are more of them out there on the river fishing, they each catch less fish per month according to the following schedule: Boats Fish Caught per Boat (pounds) 200 190 175 155 130 If each fisherman acts in his own best interest, his average cost is the same as $ continue operating his boat as long as his . Thus, there will be 1 2 345 Each fisherman will is positive. If he catches 130 fish, his profit is boats in the river.Please help me with this problem. Thank you!The marginal revenue of the nth box of flash cards sold is 100e^-0.001n dollars. Find the revenue generated by selling boxes 101 through 1000.