Assume that the relationship between the growth of a fish population and the population size can be expressed as – 0.1P, where g is the growth in tons and P is the size of the population (in thousands of tons). Given a price of $50 ton, the marginal benefit of smaller population sizes can be computed as 10P – 200. (a) Compute the population size that is compatible with the maximum sustainable yield. What would be the size of the annual catch if the population were to be sustained at this level? (b) If the marginal cost of additional catches (expressed in terms of the population size) is (80 – P), what is the population size that is compatible with the efficient sustainable yard?
Get professional help with your research essay paper today from our student essay service. For all your Academic Essay/ Research/ Thesis/ Dissertation/ writing needs at an affordable price. 100% authenticity and on-time delivery/ Overnight delivery/ 6 hours delivery. Try our services and we assure you of getting a good grade in your coursework, Term Paper, Research Paper, Thesis, or Dissertation. Order this paper and enjoy a 20% discount today