Refer to the Following Scenario to Answer the Following Questions

question 69

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.

-If four boats operate,then each boat will make a profit of

• A) $775.00.
• B) $500.00.
• C) $275.00.
• D) $675.00.
• E) $68.75.

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Definitions:

Competitive

Having a strong desire to be more successful than others, often characterized by ambitions to win or be the best in activities, sports, or professional endeavors.

Strongest Family Ties

The most robust and enduring bonds and relationships within a family, characterized by mutual support, loyalty, and attachment.

Grandparents and Grandchildren

The relationship and bond between grandparents and their grandchildren, often characterized by love, mentoring, and nurturing.

Siblings

Brothers or sisters, including those related by birth, adoption, or marriage.