Refer to the Following Scenario to Answer the Following Questions

question 35

Multiple Choice

Refer to the following scenario to answer the following questions.
Five fishermen live in a village and have no other employment or income-earning possibilities besides fishing.They each own a boat that is suitable for fishing but does not have any resale value.Fish are worth $5 per pound,and the marginal cost of operating the boat is $500 per month.They all fish a river next to the village.According to the following schedule,they have determined that when there are more of them out on the river fishing,they each catch fewer fish per month.

-How many fishermen will choose to operate their boats?

• A) one
• B) two
• C) three
• D) four
• E) five

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Definitions:

Older Workers

Individuals in the workforce who are near or beyond the customary retirement age, often valued for their experience and work ethic.

Age Discrimination

The unequal treatment of individuals due to their age, particularly in employment settings.

Mean

A statistical measure representing the average value of a set of numbers.

Distribution

The process by which goods or services are spread or made available to consumers or through which phenomenon are spread across a population or area.