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The daily production function of a lake is TP=30*F-F^2 (where TP=total daily harvest and F=number of fishermen per day). Suppose each potential sport fisherman on the lake has a daily opportunity cost of $20 and that each fish caught is valued at $1. What is the total daily (opportunity cost) for the fishery? the average opportunity cost? the marginal opportunity cost? the marginal product? the average product?

Econometrics, Economics

  • Category:- Econometrics
  • Reference No.:- M9499967

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