Question
Suppose that the wage rate for fishermen is fixed at 100 per day in the short run we can then assume that the extra cost
Suppose that the wage rate for fishermen is fixed at 100 per day in the short run we can then assume that the extra cost of hiring an extra fisherman is 100 per day. Use the MRP information you calculated to determine how many fishermen would be hired as the price of tuna varies from 500 per pound to 275 per pound.
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Microeconomics
Authors: Robert Pindyck, Daniel Rubinfeld
8th edition
978-0132870436, 132870436, 013285712X, 978-0133371178, 133371174, 978-0132857123
