- The total market value of fish caught by a fleet of fishingboats (per month) is given by:
V = $40,000B - $1000B2
Where B is the number of boats engaged in fishing. The cost of running one fishing boat for one month is $18,000,giving the total cost of running B fishing boats as $16,000B
- Write down an expression for total net profit for the entirefishing fleet
- Find the number of boats that would maximize this total netprofit
- Suppose that when B boats operate, each boat gets V/B (catch issplit equally). Each boat captain can decide to operate in a givenmonth or not. How many boats will choose to operate?
- What is V and V/B with the number of boats you found in3)c)?
