# Answer to Question #4947 in Microeconomics for Alexia

Question #4947

A commercial fisherman notices the following relationship between hours spent fishing and the quantity of fish caught:

Hours Quantity of fish (in pounds)

0 0

1 10

2 18

3 24

4 28

5 30

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 fishermen 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.

Hours Quantity of fish (in pounds)

0 0

1 10

2 18

3 24

4 28

5 30

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 fishermen 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.

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