Assignment Detail


Find the price and the total revenue

    Assignment Instructions

    Assignment Help >> Business Management


    Bart is a fisherman in Rend Lake Illinois and has a job paying $100/day. He has to decide whether to work at the store or fish in the lake and sell the fish. Demand for fish is Qd = 1000 – 2P per day where, P is price per kilo and Qd is quantity demanded.

    a) Assume the Rend Lake is a public property and find the optimum fish catch for Bart.

    b) Find the price and the total revenue Bart will make each day.

    c) Suppose Bart owned Rend Lake. Find the optimum catch per day and show that in this situation fish will last longer.

    Need fresh solution to this Assignment without plagiarism?? Get Quote Now

    Expert Answer

    Asked by: Anonymous
    Plagiarism Checked
    Answer Rating:

    Plagiarism free Answer files are strictly restricted for download to the student who originally posted this question.

    Related Assignments

    Our customer support team is here to answer your questions. You can send Assignments directly to support team.
    👋 Hi, how can I help?