Consider the following situation: a person sells fishes by the seashore, assuming that he is a monopolist, and that there is no cost of production of output. The inverse demand curve for his fishes s is given by: p( s ) = 10 -s. Plus, assume that he can always choose to throw fishes back in the ocean: he cannot choose to store fishes, aiming to sell them another day.
Say that, one day, 6 fishes gotten for him. In this case, what is his optimal quantity to sell, and what is the price at which he sells his fishes?