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6. Returning to Eze Simpson Osuagwu and Eseoghene Olaifa's Effects of oil spills on fish production in the Niger Delta, and their production function B4
6. Returning to Eze Simpson Osuagwu and Eseoghene Olaifa's Effects of oil spills on fish production in the Niger Delta," and their production function B4 F = ASR1 P2CM3 L24 where Ft is fish production, as captured fish measured in tones at period t, A is total-factor productivity, St is the quantity of oil spills in barrels at period t, Pt is oil production in barrels at period t, Ct is fish capital, proxied by number of fishery loans at period t, and Lt is fish labor captured by the number of fishers at period t. (a) (3 pts) Derive an expression for the real wage of fishers (b) (2 pts) Use the expression you derived in part 6(a) to develop an economic interpretation of the variable B4. Hint: write your answer to part 6(a) as a function of (Ft/Lt)
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