Calculate a the number of boats that would not violate


Given that the fishing activity of a bay is described by the following:

Boats   Total Catch(lbs)     

1                         60

2                         100

3                         3130

4                         150

5                         160

6                         150

If fish sell in a perfectly competitive market at $2.5 per pound and the total cost per boat is $90 calculate: (a) the number of boats that would not violate economic efficiency and (b) the actual number of boats under open access.

Solution Preview :

Prepared by a verified Expert
Business Management: Calculate a the number of boats that would not violate
Reference No:- TGS02516761

Now Priced at $10 (50% Discount)

Recommended (99%)

Rated (4.3/5)