Oceanic pacific company has decided to conduct a series of, Ask an Expert

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problem: Oceanic Pacific Company has decided to conduct a series of experiments to determine the value of tuna that could be caught with different crew sizes. The results of these experiments are as follows:

Crew Number	Daily Tuna Catch (kilograms)
0	0
1	50
2	110
3	300
4	450
5	590
6	665
7	700
8	725
9	710

[A] Describe & show the point where diminishing return occurs.

[B] Show the points or ranges where raising returns, diminishing returns, & absolute decreasing returns occurs.

[C] Assume the market price of tuna is $3.50 per kilogram. How many crews should the company use if the daily wage per crew member is 100 dollars. Show all work to receive full credit.

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Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M917777

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