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A commercial fisherman notices the following relationship between hours spent fishing and the quantityof fish caught: a. What is the marginal product of each hour spent fishing? b. Use these data to graph the fisherman's production function. Explain its shape. c. The fisherman has a fixed cost of $\$$10 (his pole). The opportunity cost of his time is $\$$5 per hour. Graph the fisherman's total-cost curve. Explain its shape.

a. decreasing$\\$b. increasing$\\$c. total cost is a straight line it is always 10, red line indicates the return of marginal product

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over in question three off. There is this fisherman and he has this following a relationship between our Spain fishing and the quantity of fish caught. So question A is asking us to calculate a marginal product of each hours when he spent fishing. So the marginal product is just the difference between East too. Each separate sales here. So if he spent zero hours fishing off course, he get zero pounds of fish. But for this one extra hour, he get ten fish. So this is the marginal product here now, right? Marginal product, this MP. And then for two hours he can fish eighteen fish. So from one to two, this extra hour gives him eight. And then I do the same for for calculating the difference of these two. Some numbers so we can see that the marginal product is decreasing. Right? Ten and eight, six four. And now, from from ours from the fourth hour to the fifth power, he only catches two extra fish. Okay, so question be is saying that used these data to correct the fisherman's production function. So if we have to graft the production function So this is time X axis is time. And why accesses a quantity of fish Just right fish. So? So first, our ten fish. So it is like maybe here ten fish. So this dot And then the second hour get eighteen fish. So say this is twenty. So and then thirty here with two hours eighteen fish social be this thought and then three hours twenty four fish. So some thumb We're in between twenty and thirty. And then for our, um, twenty eight fish. So, like, hear close to three. But Nadia thirty. And then, uh, five hours, thirty fish. So thirty fish right here. So if we connect the thoughts, we can see sort of a con cave function. Which story? Well, I have to control this soft, which indicates that the marginal product is thie decreasing. Yes, that this lok off this curve is This kid is getting Slatter and letter all these questions. See, the fisherman has a fixed costs off ten. So it's cost two already appear so fixed. Costs this ten Fisk weeks cost ten and then the opposition caused his time Is five dollars for our so grab the fisherman's total cost. Kurt, So much opportunity Cost all right as marginal cost here is five per hour. So if he spent zero zero hour fishing, he's cost is ten because the fixed costs is always there. And then one hour we have to cross this five. So it becomes fifteen and then two hours he will. The marginal cost is also five. So he spent like he accumulated, like, ten dollars. Here's attempt plus ten is twenty, um, like right here and then I plus another five hours right here and then for will be thirty because four times five is twenty is the opportunity cost and then also what you have to always plus this fixed costs. Here it's start E and then very five, so we can see that the marginal cost this a straight way. Okay, So if we have to explain the shape on the total cost, here is a straight line, as it is always ten plus a linear function off this marginal cost. In the shape of this, the off the red wine indicates the diminishing return off marginal product

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