(Note: Use the following information for Fishery, Part A thru D) Table below represents the operation of an Open-Access fishery. Total Catch Total Average Marginal # of Boats (tons) Revenue Revenue Revnue 1 13 1560 1560 1560 234567890F237 26 3120 1560 1560 34 4080 1360 960 41 4920 1230 840 46 5520 1104 600 50 6000 1000 480 53 6360 909 360 54 6480 810 120 52 6240 693 -240 10 49 5880 588 -360 11 45 5400 491 480 12 35 4200 350 -1200 13 23 2760 212 -1440 14 10 1200 86 -1560 Price per ton 120 MC per trip 830 Fishery, Part A: What is the average profit per boat when there are 10 boats in the fishery? (use negative number for loss) 10

(Note: Use the following information for Fishery, Part A thru D) Table below represents the operation of an Open-Access fishery. Total Catch Total Average Marginal # of Boats (tons) Revenue Revenue Revnue 1 13 1560 1560 1560 234567890F237 26 3120 1560 1560 34 4080 1360 960 41 4920 1230 840 46 5520 1104 600 50 6000 1000 480 53 6360 909 360 54 6480 810 120 52 6240 693 -240 10 49 5880 588 -360 11 45 5400 491 480 12 35 4200 350 -1200 13 23 2760 212 -1440 14 10 1200 86 -1560 Price per ton 120 MC per trip 830 Fishery, Part A: What is the average profit per boat when there are 10 boats in the fishery? (use negative number for loss) 10

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter12: Environmental Protection And Negative Externalities

Section: Chapter Questions

Problem 38CTQ: How can high-income countries benefit from covering much of the cost of reducing pollution created...

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