Question: Mack a resident of Tennessee has just returned from his

Mack, a resident of Tennessee, has just returned from his annual 1-week trip to Montana to fly-fish for trophy rainbow trout. His wife is trying to convince him that the trip is too expensive. Mack practices “catch and release” fishing, so he brings home only 1 fish, which he has mounted to display in his den. He caught and released 35 fish per day while on his trip. He goes fishing almost every weekend at home. Mack’s wife accumulated the following costs so she could make her point that his fishing trip is too expensive:

A. Assuming that this year’s fishing trip is typical, what costs are relevant to a decision to go or not go on the Montana trip each year?
B. If Mack were to catch 300 fish on his next trip to Montana, what would be the additional cost for the extra 55 fish?
C. Which costs are relevant to a decision to give up fishingaltogether?

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  • CreatedMarch 11, 2015
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