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Suppose that in Horsehead, Massachusetts, the cost of operating a lobster boat is $4,000 per month. Suppose that if x lobster boats operate in the
Suppose that in Horsehead, Massachusetts, the cost of operating a lobster boat is $4,000 per month.
Suppose that ifxlobster boats operate in the bay, the total monthly revenue from lobster boats in the bay is $1,000(12x-x2).
If the lobster fishery is centrally managed (perhaps by Fishery Products International), and the goal is to maximize the profit from the lobster fishery, then the number of boats operating will be _____ and the total profit of the lobster fishery will be?
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