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. The maximum sustainable effort level is an effort level that maximizes b s. Then, the maximum sustainable effort level, Em= integer (you can round the number). Hint: Write an
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- Question 3 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. If we rewrite the sustainable harvest/catch level equation in terms of effort level, E, then we have b = [a]E - [b]E [c] 3 [None Given] [None Given] Specified Answer for: a Specified Answer for: b Specified Answer for: cAssume 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?A commercial fisherman notices the following relationship between hours spent fishing and the quantity of fish caught: Hours Fish (pounds) 0 0 1 10 2 18 3 24 4 28 5 30 The fisherman has a fixed cost of $10 (his pole) and the opportunity cost of his time is $5 per hour. What is the total cost of capturing 28 pounds of fish? Question 7 options: 30 40 20 10
- The Boswell Fruit Farm produces only oranges and papaya. Table 1 below shows the maximum possible output combinations of the two fruits using all resources and currently available technology. Answer the questions below and show calculations where appropriate. Table 1 Boswell Fruit Farm Possible Output Combinations Oranges Papayas (thousands of kilos) (thousands of kilos) A 140 0 B 120 20 C 100 38 D 80 52 E 60 64 F 40 74 G 20 80 H 0 82 Which of the possible output combinations represent the lowest opportunity cost for one thousand kilo of papayas? Show your calculation to support your answer.what is efficient scale in economicsExplain why using a static efficiency criterion does not provide much insight when the resource quantity is limited? What is inter-temporal efficency and what are the equilibrium conditions for how resources are optimally used over multiple time period?
- I need typed solution...Assume that England and Spain can switch between producing cheese and producing bread at a constant Labor Hours Needed to Make 1 Unit of Number of Units Produced in 24 Hours Cheese Bread Cheese Bread England 2 3 12 8 Spain 3 6 8 4 Assume that England and Spain each has 24 labor hours available. If each country divides its time equally between the production of cheese and bread, then what will be the total production of Cheese and Bread? Check to see if the following combination of Chease and Bread could be produced in England. 6 units of cheese and 4 units of bread. 8 units of cheese and 3 units of bread.The following Table is for answering questions below: Input Output TFC TVC TC MC 200 1000 400 1000 X - T 1200 W Z Y 5 What is the value of W ? 400 200 1000 None of the above
- 100 Game Free-Throw Percentage 80 70 Average Free Trow Percentage 60 50 40 20 10 GAME You can think of the result in any one game as being Paolo's marginal free-throw percentage. Based on your previous answer, you can deduce that when Paolo's marginal free-throw percentage is below the average, the average must be falling You can now apply this analysis to production costs. For a U-shaped average total cost curve, when the marginal cost curve is below the average total cost curve, the average total cost must be_rising v. Also, when the marginal cost curve is above the average total cost curve, the average total cost must be rising v . Therefore, the marginal cost curve intersects the average total cost curve at its maximum FREE-THROW PERCENTAGE4:12 PMG b + .…. 0.62K/s 0a .ll 32% K 4_5915643745964919843.docx X : 1. Define the Following A. Economics B. Factors of Production C. Scarcity D.Opportunity Cost E. Law of Demand. E. Production Possibilities Curve G. Law of Supply H. Three basic questions all economic systems must answer 2. Let the following table represents the total utility of a given consumer, in the car dinal utility approach. 1 2 3 4 5 6 7 TUX TU 8 14 18 20 20 18 16 6. 10 13 15 16 16 14 MUX MUY MUX/Px MUy/Py A) Calculate the MUx and MUy and fill the table in the 4th and 5th rows. B) If the two products (X&Y) are free goods how many of X and Y should the con sumer take to maximize utility? C) What is the maximum utility of X and Y if they are free? D) Let now price of X is 4 bir per unit and price of Y is 2 bir per unit. Calculate M Ux/Px and MUy/Py and fill the 6th and 7th row. E) Assuming the consumer has any amount of money (enough budget) how man y of X and Y should the consumer buy, to maximize utility? F)…Specify and explain the typical shapes of marginal-benefifit and marginal-cost curves. How are these curves used to determine the optimal allocation of resources to a particular product? If current output is such that marginal cost exceeds marginal benefifit, should more or fewer resources be allocated to this product? Explain.