Great Deal! Get Instant $10 FREE in Account on First Order + 10% Cashback on Every Order Order Now

At the fishing hole, people come from all around to catch fish to sell at the fish market. The total number of fish caught is F=10x-(x^2) where x is the number of fishermen. Suppose it costs each...

1 answer below »
At the fishing hole, people come from all around to catch fish to sell at the fish market. The total number of fish caught is F=10x-(x^2) where x is the number of fishermen. Suppose it costs each person $20 a day to fish and that fish sell for $10 each at the market. At the social optimum, how much would it hurt all the other fishermen (combined) if one more person started fishing?a) $30 b) $20 c) $10 d) $40
Answered Same Day Dec 29, 2021

Solution

David answered on Dec 29 2021
114 Votes
I have applied the co
ect method to solve this question. The answer should either be $10 or $30.
But $40 can never be a solution to this problem. So please verify it with other of your mates. I am
also confused how $40 can be an answer. So please verify.
SOLUTION.PDF

Answer To This Question Is Available To Download

Related Questions & Answers

More Questions »

Submit New Assignment

Copy and Paste Your Assignment Here