Estimate kilograms of lobster must he catch per day, Macroeconomics

A lobster catcher spends $12 500 per month to maintain a lobster boat.  He plans to catch an average of 20 days per month during lobster season.  For each day, he must allow approximately $95 for fuel and ice for the boat.  If his packaging and distribution costs are $2.00 per kilogram of lobster, and if lobster sells for $6.00 per kilogram: (Excel is not required for this question: Just Type your answer with proper steps)

a. How many kilograms of lobster must he catch per day to break even?

b. Suppose the catcher wants to put away money to sustain himself through inclement weather and off-season expenses.  He decides that he would like to save $10 000 per month.  How much lobster should he plan to catch to make this plan possible?

 

 

Posted Date: 3/29/2013 2:32:02 AM | Location : United States







Related Discussions:- Estimate kilograms of lobster must he catch per day, Assignment Help, Ask Question on Estimate kilograms of lobster must he catch per day, Get Answer, Expert's Help, Estimate kilograms of lobster must he catch per day Discussions

Write discussion on Estimate kilograms of lobster must he catch per day
Your posts are moderated
Related Questions
Inflation in Sweden Figure Inflation in Sweden 1830 - 2010. Source: SCB. There are four aspects which are interesting when we look at inflation data for Sweden

Need answers for problems after chapters 10, 11 & 12 for Macroeconomics in Aplia.com. Need today or tomorrow. Can you help?

Suppose the consumption function is C = $500 billion + 0.55Y and the government wants to stimulate the economy. By how much will aggregate demand at current prices shift initially

The aggregate demand curve shows the combinations of the price level and the level of output at which the goods and money markets are simultaneously in equilibrium. Let us now go o


PRODUCTION POSSIBILITY CURVE As we have seen, the essence of economic analysis is the problem of scarcity and choice. We know that limited productive resources compel individua

If you have $10,000 to start a lawn-cutting business, the interest rate is 6 percent, your annual cost of raw materials are $4,000, and the earnings you sacrifice from working at a

Many investors and financial analysts believe the Dow Jones Industrial Average (DJIA) provides a good barometer of the overall stock market. On January 31, 2006, 9 of the 30 stocks

What factors shift out the PPC and what is the opportunity cost of the economy moving out to get back on the PPC? Explain?