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Number of Fisherman Daily Tuna Catch

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Number of Fisherman Daily Tuna Catch (IB);0 0;1 50;2 110;3 300;4 450;5 590;6 665;7 700;8 725;9 710;Suppose the market price of tuna is $3.50/pound. How many fishermen should the company use if the daily wage rate is $100? Suppose a glut in the market for tuna causes the price to fall to $2.75/pound. What effect would this have on the number of fishermen used per boat?

 

Paper#28545 | Written in 18-Jul-2015

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