Posted by **jalal** on Wednesday, July 27, 2011 at 9:24pm.

A village has n fishermen who exploit the sea nearby and sell their catch at market price (assumed constant). The extraction technology displays decreasing returns to scale and is a=e^-1/2 where e is the total effort.

1) What is the optimal behavior for the village?

2) What is the efficient behavior?

## Answer This Question

## Related Questions

- economics - When a firms long run avg cost curve is horizontal for a range of ...
- Econ-Returns to scale - Determine whether returns to scale is decreasing, ...
- Math - If 5 fishermen catch 5 fish in 5 minutes, how many minutes will it take ...
- economics - if production is Q=(a^c) min(K,L) where a>0, c>1, price of ...
- Economy - How to draw isoquant curves for a certain quantity? What does "...
- MICROeconomics - Monopoly - Please check my answers and correct them. Domestic ...
- Algebra - She has 1000 bushels of corn to sell. Presently the market price is $5...
- Economics - What do you think are the pluses (advantages) and minuses (...
- Economics - What do you think are the pluses (advantages) and minuses (...
- economic math - Imagine that you own a small business and that you have to ...

More Related Questions