chp 7 answers economics for business managementFull description
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Full description
Full description
Trabajo de recopilacion en la introduccion al mundo de los TMS.Descripción completa
logistika
eco reviewer
Economics
Economics and Management 1.) The Oceanic Pacifc Pacifc eet has just decided to use a pole-and-line method o fshing instead o gill netting to catch tuna. The latter method involves the use o miles o nets strung out across the ocean and thereore entraps other sea creatures esides tuna !e.g." porpoises" sea turtles). #oncern or endangered species $as one reason or this decision" ut perhaps more important $as the act that the major tuna canneries in the %nited &tates $ill no longer accept tuna caught ' gill netting. Oceanic Pacifc decided to conduct a series o e(periments to de termine the amount o tuna that could e caught $ith dierent cre$ si*es. The results o these e(periments ollo$. ollo$. +umer o ,ishermen 0 1 2 3 4 6 7 8 5
a. etermine etermine the the point at at $hich diminishing diminishing return returns s occurs. occurs. The diminishing marginal returns returns sets in at 9 8
. :ndicate :ndicate the points points that that delineate delineate the three three stages stages o productio production. n. The frst stage is et$een 9 0 to 2" the second stage stage is et$een 9 2 to 8" and the third stage is e'ond 9 8.
c. &uppose the mar;et price o tuna is <3.0=pound. >o$ man' fshermen should the compan' use i the dail' $age rate is <100? The proft is ma(imi*ed at hiring 7 fshermen" and the ma(imum proft is@ <170
d. &uppose a glut in the mar;et or tuna causes the price to all to <2.7=pound. &uppose the price rose to <.00=pound. Ahat eect $ould this have on its hiring decision? Bt P 9 <2.7 per pound" the numer o laourers that should e hired in order to ma(imi*e profts is@ 6
e. &uppose the frm reali*es that to ;eep up $ith the demand or tuna caught ' the more humane pole-and-line method o fshing" each o its
oats must catch at least 1"000 pounds o fsh per da'. Civen the preceding data" $hat should it consider doing? E(plain. :n order to catch at least 1000 pounds o fsh ever' da'" the frm should decide to hire even more than 5 laourers. :t should e(pand it laour schedule to include the costs and production or more than 5 laourers. 2.) /ased on 'our ;no$ledge o the defnition o the various measures o short-run cost" complete the tale.