The following model was applied to manage a coastal fishery:

Growth function: = , , thousand tons per year where x is effort, measured in number of boats

Cost function: = + , million $ per year

Fish price: P = 200 k$ / tonn [thousand $ per ton = $ per kg]

1. Write function for sustainable revenue (R) and cost (C)

2. Derive fleet size (numper of boats) at MSY and mark it on the figure.

3. Derive fleet size at OA

4. Derive fleet, catch and rent at MEY
5. Now a tax is imposed on the fleet proportional to effort so that the cost function becomes: = + , + M$ / year

where k is the fee for each boat per year.

Determine the constant k in such a way that the fishery gives no rent in part d (except the tax to the public owner).

Don't need more info, it's ok i you can't solve this. you can just at least give me refund :)

OA is open access method is fishery economics, and the figure is something each one has to make.

this is the whole example. It's ok to refund

The following model was applied to manage a coastal fishery: 0 10 20 30 40 50 60 70 80 Growth function: G=0, 1x - 0,000125x2 thousand tons per year where x is effort, measured in number of boats boats MS/year R MS/year Cost function: C= 1200+ 0,005x2 million $ per year Fish price: P= 200 kkr / tonn (thousand $ per ton = $ per kg] 10000 9000 8000 a) Draw graphs of sustainable revenue (R) and cost (C) in the same system. 7000 6000 b) Derive fleet size (numper of boats) at MSY and mark it on the figure. M$/r 5000 4000 c) Derive fleet size at OA and mark it on the figure. 3000 2000 d) Derive fleet, catch and rent at MEY and mark it on the figure. 1000 e) 0 0 10 20 30 40 50 60 70 80 Boats Now a tax is imposed on the fleet proportional to effort so that the cost function becomes: C = 1200+ 0,005x2 + kx Mkr / year where k is the fee for each boat per year. Determine the constant k in such a way that the fishery gives no rent in part d (except the tax to the public owner). Explain the solution by drawing a new cost graph on the figure in part a). Please use table and picture on next page! The following model was applied to manage a coastal fishery: 0 10 20 30 40 50 60 70 80 Growth function: G=0, 1x - 0,000125x2 thousand tons per year where x is effort, measured in number of boats boats MS/year R MS/year Cost function: C= 1200+ 0,005x2 million $ per year Fish price: P= 200 kkr / tonn (thousand $ per ton = $ per kg] 10000 9000 8000 a) Draw graphs of sustainable revenue (R) and cost (C) in the same system. 7000 6000 b) Derive fleet size (numper of boats) at MSY and mark it on the figure. M$/r 5000 4000 c) Derive fleet size at OA and mark it on the figure. 3000 2000 d) Derive fleet, catch and rent at MEY and mark it on the figure. 1000 e) 0 0 10 20 30 40 50 60 70 80 Boats Now a tax is imposed on the fleet proportional to effort so that the cost function becomes: C = 1200+ 0,005x2 + kx Mkr / year where k is the fee for each boat per year. Determine the constant k in such a way that the fishery gives no rent in part d (except the tax to the public owner). Explain the solution by drawing a new cost graph on the figure in part a). Please use table and picture on next page