Question: The Ocean Pacific fleet has just decided to use a pole-and-line method of fishing instead of gill netting to catch tuna. The latter method involves the use of miles of nets strung out across the ocean and therefore entraps other sea creatures besides tuna (e.g. porpoises, sea turtles). Concern for endangered species was one reason for this decision, but perhaps more important was the fact that the major tuna canneries in the United States will no longer accept tuna caught by gill netting. Ocean Pacific decided to conduct a series of experiments to determine the amount of tuna that could be caught with different crew sizes. The results of these experiments follow.

Refer to question 11. Suppose the market price of tuna is $3.50/pound. How many fishermen should the company use if the daily wage rate is $100?

Price: $2.99

Solution: The downloadable solution consists of 2 pages
Deliverable: Word Document