Assume the relationship between the growth of a fish population and the population size can be represented as g= 8S – 0.2S2, where g is the growth in tons and S is the size of the population (in thousands of tons) a. Given a price of $100 a ton of fish, what is the marginal benefit of smaller population sizes?
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Assume the relationship between the growth of a fish population and the population size can be represented as g= 8S – 0.2S2, where g is the growth in tons and S is the size of the population (in thousands of tons)
a. Given a
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- The biological relationship between the growth for the fish population and the size of the fish population is g = 15S(1-S/5) where g is the growth of the fish population and S is the size of the population. The size of the harvest is a function of the amount of human effort expended b = 3ES where E is the level of effort. Market price of fish per unit is $100 and a constant marginal cost of effort is $50. The maximum sustainable effort level is an effort level that maximizes b §. Then, the maximum sustainable effort level, E m= Write the number in one decimal place. Hint:Suppose that pig farming in a region is a perfectly compet- itive industry. However, one negative consequence of this activity is that it creates water pollution that adversely affects the health of the residents in the nearby communities that rely on the water sources that are contaminated by the pig farms. The market supply curve for pigs (or hogs) is given by H^S = 6p where H^S is the quantity of hogs supplied to the market by farmers in this region. The market demand for hogs is given by H^P = 300 – 4p. The government estimates that the additional medical costs (M) imposed on the nearby communities is given by M = 5H, where H is the quantity of hogs produced and sold in the market. Q: In the absence of clearly defined property rights over water use or con- ventions or some form of government intervention, derive the market equilibrium for hogs and the DWL resulting from the additional medical costs associated with hog production. Please show the formula, thank you.Y10
- A village has 4 farmers. Each summer, all the farmers graze their sheep on the village green. The cost of buying and caring for sheep is very small and can be regarded as 0. The value to a farmer of grazing a sheep on the green when a total of F sheep are grazing is v(F) per sheep: v(F) (price of a sheep) 1 $13 $12 3 $9 4 $7 $4 6+ $0 Suppose you are one of the 4 farmers in the game. Your optimal choice is to own (choose on) farmers chooses to own one (1) sheep. sheep if each of the other three Your optimal choice is to own (choose on). farmers chooses to own one (1) sheep. sheep if each of the other three 1 4.i want just explanation How does 8-1Q1= 8-Q2 become Q1+Q2= 10What does it mean when the initial allocation is interim Pareto Efficient
- Digital piracy. Suppose the British rock band Radiohead is about to release its new album In Rainbows. For now, assume the band cannot choose the price of the album, which is set at $10. The (marginal) cost to distribute each copy is $2. (a) If demand for the album is given by p = 100 - q, how many albums will be sold? What will profits be? (b) Draw the demand curve and indicate the price and quantity of albums sold using your answer to (a). Calculate deadweight loss and show this on your diagram too. (c) Suppose that the introduction of the Internet lowers distribution costs to $0 but also allows consumers to pirate the album for free. Assume that consumers who were not willing to pay $10 will pirate the album. If 50% of consumers that were prepared to pay $10 (or more) for the album also pirate for free, what will Radiohead's profits be? What is deadweight loss?You manage two chocolate factories. Using only these two factories, you must produce exactly 420 kgs of chocolate daily at lowest possible cost. Mathematically, you have: Q1 = Quantity produced at Chocolate Factory #1 Q2 = Quantity produced at Chocolate Factory #2 Daily total overall production: Q1 – Q2 = 420 At present, each factory produces half the overall requirement. This means that Q1 = 210, Q2 = 210 a) Following your logic , you realize that as long as the marginal cost is different between the two factories, you can lower overall cost while maintaining production at 420 kgs. So, to reduce the overall cost to the lowest possible, you decide to move more than 1 kilogram from one factory to another. As a result, each factory will produce a different quantity of chocolate while the overall daily production remains at 420 kgs. To minimize overall cost, how many kilograms will you order/instruct Factory #1 to produce? Q1 = ____________kgs And how many kilograms would you…The biological relationship between the growth for the fish population and the size of the fish population is g = 12S(1 - S/4) where g is the growth of the fish population and S is the size of the population. The size of the harvest is a function of the amount of human effort expended b = 3ES where E is the level of effort. Market price of fish per unit is $100 and a constant marginal cost of effort is $40. We can derive the free-access equilibrium effort level Ef by setting the net benefits function equal to zero. Then, E f = in one decimal place. Hint: Write the number
- Suppose that the demand curve for tickets to see a football team is given by Q = 36,000 - 4p and marginal cost = 1000 per customer. (Ten dollars as this is expressed in pennies) This can also be written as D(P) = 9000 -0.25 Q. MR = 9000-0.5 Q Suppose there are only 45,000 seats in the stadium. We would like for you to solve for the PRICE (in dollars) that the PROFIT MAXIMIZING UNREGULATED MONOPOLIST would charge. $30 O $90 $60 $50 O $70Question 2 of 12, Step 1 of 1 1/12 Correct Consider a company that produtes Good A and Good B. The equation of the PPF is 9x + 3y² 18,900, where is the quantity of Good A and y is the quantity of Good B. This year, the company produces 30 units of Good A and 60 units of Good B. Then, a new technology allows the company to reduce the quantity of resources required for Good Aby 1.5 times How much of Good A will the company produce at the same quantity of Good B? If necessary, round any intermediate calculations to one decimal place, and round your final answer to the nearest whole number. Answer units Keypad Keyboard ShortcutsIn a hypothetical country called Tritonland, demand and supply of fish are determined by the following system of equations: Q Q = 3+P+v, where Q and P stand for quantity and price respectively, and that u and v are independent Uniform [0, 2]. Suppose we have i.i.d. observations (Qi, Pi)_1 from n markets in equilibrium. Answer the next few questions. = 15 P+u,
