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Dovator [93]
2 years ago
15

Georges Bank, a highly productive fishing area off New England, can be divided into two zones in terms of fish population. Zone

1 has the higher population per square mile but is subject to severe diminishing returns to fishing effort. The daily fish catch (in tons) in Zone 1 is F1 = 200(X1) - 2(X1) 2 where X1 is the number of boats fishing there. Zone 2 has fewer fish per mile but is larger, and diminishing returns are less of a problem. Its daily fish catch is F2 = 100(X2 ) - (X2 ) 2 where X2 is the number of boats fishing in Zone 2. The marginal fish catch MFC in each zone can be represented as MFC1 = 200 - 4(X1) and MFC2 = 100 - 2(X2). There are 100 boats now licensed by the U.S. government to fish in these two zones. The fish are sold at $100 per ton. Total cost (capital and operating) per boat is constant at $1000 per day. Answer the following questions about this situation: a. If the boats are allowed to fish where they want, with no government restriction, how many will fish in each zone? What will be the gross value of the catch?b. If the U.S. government can restrict the number and distribution of the boats, how many should be allocated to each zone? What will be the gross value of the catch? Assume the total number of boats remains at 100.c. If additional fishermen want to buy boats and join the fishing fleet, should a government wishing to maximize the net value of the catch grant them licenses? Why or why not? (Hint: Marginal revenue and marginal cost in Zone 1 are 100(200 ? 4X1 ) and 1000 , respectively; while marginal revenue and marginal cost in Zone 2 are 100(100 ? 2X2 ) and, 1000 , respectively).
Business
1 answer:
exis [7]2 years ago
6 0

Answer:

Explanation:

please find the attached for a solution

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Is 40 a prime number​
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3 years ago
Suppose that everyone who has looked for a job for more than six months gave up in despair and stopped looking. What would happe
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Answer:

It would fall

Explanation:

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If unemployed people just quit looking for jobs, the unemployment will decrease even though the number of people who are out a job increases. This happens because as soon as someone quits looking for new job, they are not considered unemployed anymore.

6 0
2 years ago
Part i51 is used in one of pries corporation's products. the company makes 18,000 units of this part each year. the company's ac
Andrews [41]

<span>If Part i51 is used in one of pries corporation's products and the company makes 18,000 units of this part each year, then the company's accounting department reports the following costs of producing the part at this level of activity that an outside supplier created an offer to produce and create a selling process to the company.</span>

4 0
2 years ago
Last year, Mountain Top, Inc., purchased a coal mine at a cost of $900,000. The salvage value has been estimated at $100,000. Th
nydimaria [60]

Answer:

Journal entry to record depletion expense

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Accumulated depreciation $280,000 (credit)

Explanation:

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Charra [1.4K]

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Some of these specific limits apply to a building or personal property at a single location.

From the listed option, the personal property items that have the HIGHEST specific limitation on coverage are jewelry, watches, and precious stones or metals because they are saved in a location, especially in banks

Learn more on specific limitations on coverage here: brainly.com/question/27015627

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2 years ago
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