The amount of fish caught per week on a trawler is a function of the crew size
Question:
CREW SIZE (NUMBER AMOUNT OF FISH CAUGHT PER
OF WORKERS) WEEK (HUNDREDS OF LBS)
2 .................... 3 3.................. .. 6
4 ................... 11
5 ................... 19
6 ................... 24
7 ................... 28
8 ................... 31
9 ................... 33
10 .................... 34
11 .................... 34
12 .................... 33
a. Over what ranges of workers are there
(i) Increasing,
(ii) Constant,
(iii) Decreasing, and
(iv) Negative returns?
b. How large a crew should be used if the trawler owner is interested in maximizing the total amount of fish caught?
c. How large a crew should be used if the trawler owner is interested in maximizing the average amount of fish caught per person?
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Related Book For
Managerial economics applications strategy and tactics
ISBN: 978-1439079232
12th Edition
Authors: James r. mcguigan, R. Charles Moyer, frederick h. deb harris
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