What is the average profit per boat when there are 10 boats in the fishery? Suppose there are no regulation or cooperation at the Fishery, what will be the Open-Access equilibrium number of boats? What is the Socially Optimal equilibrium number of boats for this fishery?

ENGR.ECONOMIC ANALYSIS
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What is the average profit per boat when there are 10 boats in the fishery?

Suppose there are no regulation or cooperation at the Fishery, what will be the Open-Access equilibrium number of boats?

What is the Socially Optimal equilibrium number of boats for this fishery?

 

# of Boats
1
23
2
4
5
6
7
8
9
10
11
12
13
3 4
14
Price per ton
MC per trip
Total Catch
(tons)
15
30
45
58
68
77
85
92
98
101
103
102
95
90
130
1030
Total
Revenue
1950
3900
5850
7540
8840
10010
11050
11960
12740
13130
13390
13260
12350
11700
Average
Revenue
1950
1950
1950
1885
1768
1668
1579
1495
1416
1313
1217
1105
950
836
Marginal
Revnue
1950
1950
1950
1690
1300
1170
1040
910
780
390
260
-130
-910
-650
Transcribed Image Text:# of Boats 1 23 2 4 5 6 7 8 9 10 11 12 13 3 4 14 Price per ton MC per trip Total Catch (tons) 15 30 45 58 68 77 85 92 98 101 103 102 95 90 130 1030 Total Revenue 1950 3900 5850 7540 8840 10010 11050 11960 12740 13130 13390 13260 12350 11700 Average Revenue 1950 1950 1950 1885 1768 1668 1579 1495 1416 1313 1217 1105 950 836 Marginal Revnue 1950 1950 1950 1690 1300 1170 1040 910 780 390 260 -130 -910 -650
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