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 s. Then, the maximum sustainable effort level, E m= Write the number in one decimal place. . Hint:
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 s. Then, the maximum sustainable effort level, E m= Write the number in one decimal place. . Hint:
Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Chapter7: Production Economics
Section: Chapter Questions
Problem 3E
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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:](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fcf605b71-789d-48e0-8055-d8207016854b%2Fafd86a82-d359-45df-b28b-9d20645cd3d3%2Fuy3f1w_processed.jpeg&w=3840&q=75)
Transcribed Image Text: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:
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