There is a fish species has a growth function G(S) = gS(1 – and a K 2gS where all variables are defined K marginal growth function MG(S) = as in the lecture notes. Assume that g = 1, K = 500. Assume that the price of fish is $30 per fish, the marginal private cost, MPC, to harvest fish is $20. In addition, assume that the discount rate is 10%. 8 – The growth function has a is being depleted. shape, where a value indicates that the fish stock O linear; positive linear; negative O parabola; negative O parabola; positive

There is a fish species has a growth function G(S) = gS(1 – and a K 2gS where all variables are defined K marginal growth function MG(S) = as in the lecture notes. Assume that g = 1, K = 500. Assume that the price of fish is $30 per fish, the marginal private cost, MPC, to harvest fish is $20. In addition, assume that the discount rate is 10%. 8 – The growth function has a is being depleted. shape, where a value indicates that the fish stock O linear; positive linear; negative O parabola; negative O parabola; positive

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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