7 problem

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7-3) joe loves to fish and goes out 20 times per year. one day his wife asked him to quit because it was to expensive. she did a calculation and it costs $28.75 for every fish that he catches and catches 20 fish per trip. she thinks its better to buy ready-to eat fish from a local market. do you agree with her from the following information:

boat ( cost = $30,000, usable for 10 years, 20 outings per year ). $150

boat fuel $45.

dock fees and insurance (average per trip) $130

travel expenses to and from the lake $25
(100 miles @ $0.25 per mile: gas, oil, and tires, $0.18, and depreciation and insurance, $0.07)

new fishing equipment purchases this year
( over 20 trips) $25

annual fishing license $35

bait and misc expenses $50

food $40

beverages $35

traffic ticket going to the lake $40
_______________________________________________
total cost per trip $575




7-6) indicate the effect on each senerio would have on the firms average variable cost curve and its average cost curve:
a) the movement of a brokerage firms's administrative offices from new york city to new jersey, where the average rental cost is lower.
b) the use of two shifts instead of three shifts in a manufacturing facility.
c) an agreement reached with the labor union in which wage increases are tied to productivity increases.
d) the elimination of sugar quotas ( as it pertains to those firm's that use a lot of sugar such as bakeries, and soda bottlers).
e) imposition of stricker enviornmental laws.
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