Two fish farmers are deciding how many fish to raise in a public access lake. The problem is that this lake is quite small and the oxygen and food needed for aquaculture is They quickly deplete if there are excess fish, thus reducing production. Let ya and yb the number of fish that each farmer raises. The unit value of each farmed fish is: V(ya, yb) = 200 − (ya + yb)2 (b) Find the private equilibrium of fish farming. Get the benefits of each aquaculturist and the added benefits.
Two fish farmers are deciding how many fish to raise in a public access lake. The problem is that this lake is quite small and the oxygen and food needed for aquaculture is They quickly deplete if there are excess fish, thus reducing production. Let ya and yb the number of fish that each farmer raises. The unit value of each farmed fish is: V(ya, yb) = 200 − (ya + yb)2 (b) Find the private equilibrium of fish farming. Get the benefits of each aquaculturist and the added benefits.
Economics Today and Tomorrow, Student Edition
1st Edition
ISBN:9780078747663
Author:McGraw-Hill
Publisher:McGraw-Hill
Chapter11: Marketing And Distribution
Section: Chapter Questions
Problem 16AA
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Two fish farmers are deciding how many fish to raise in a public access lake. The problem is that this lake is quite small and the oxygen and food needed for aquaculture is They quickly deplete if there are excess fish, thus reducing production. Let ya and yb the number of fish that each farmer raises. The unit value of each farmed fish is: V(ya, yb) = 200 − (ya + yb)2
(b) Find the private equilibrium of fish farming. Get the benefits of each aquaculturist and the added benefits.
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