Question
There are 5 residents in a village. Each of them can earn an income by making pottery or by hunting wild deer. The amount of
There are 5 residents in a village. Each of them can earn an income by making pottery or by hunting wild deer. The amount of wild deer in the nearby forest is limited. Therefore, the income each resident earns from hunting wild deer decreases with the number of residents who choose to hunt. If there are N residents hunting in the forest (N must be an integer), then each resident earns income Y = 24 4N. Alternatively, a resident can earn $7 if he or she chooses to make pottery. Suppose whoever wants to hunt wild deer in the forest is required by law to obtain a hunting license with the license fee $T payable to the village government.
To help maximize the village's total income, the license fee $T should be strictly larger than __ and smaller than __ Continue with the previous question but without the license fee.
Suppose now the village elects a leader, Nick, and he can allocate the residents in order to maximize the total income of the village. How many residents will be allocated to hunt deer? [Answer] (In integers, please.) (In integers, please.)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started