The fisherman has a fixed cost of $200 per day and variable costs of $150 per hour
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Question:
The fisherman has a fixed cost of $200 per day and variable costs of $150 per hour (wages and fuel).
Fill in the information missing in the following table.
Hours/ day Total Fixed Costs Total Variable Costs Total Costs Marginal Costs
0
1
2
3
4
5
6
The fish sell for $100 a ton. How many hours fishing per day does he works in order to earn a maximum profit on his day's activity? And how much is that profit?
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