A beekeeper lives adjacent to an apple orchard. The orchard owner benefits from the bees because each hive pollinates about one acre of apple trees. The orchard owner pays nothing for this service, however, because the bees come to the orchard without his having to do anything. Because there are not enough bees to pollinate the entire orchard, the orchard owner must complete the pollination by artificial means, at a cost of $10 per acre of trees. Beekeeping has a marginal cost
MC = 10 + 5Q
where Q is the number of beehives. Each hive yields £50 worth of honey.
A) Assuming the beekeeper wishes to maxmise his profits, how many beehives will the beekeeper maintain?
B) What is the socially effiecient number of hives?
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “A beekeeper lives adjacent to an apple orchard. The orchard owner benefits from the bees because each hive pollinates about one acre of ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
A system of economic organization in which the ownership and control of productive capital assets rests with the state and in which resources are allocated through central planning and political decision making is called
Answers (1)
Complete the following paragraph by pulling down the correct word or phrase. When the government imposes a binding price ceiling on loaves of bread, producers will want to supply (a) bread and consumers will demand (b) bread.
Answers (1)
Janelle, one of Abdul's employees, has performed poorly on many aspects of her job since she was hired four months ago. This is likely to be attributed to:
Answers (1)
What is social objective mean?
Answers (1)
Salvatore has the opportunity to invest in a scheme which will pay $ 10 comma 000 at the end of each of the next 5 years. He must invest $ 20 comma 000 at the start of the first year and an additional $ 20 comma 000 at the end of the first year.
Answers (1)
New Questions in Business
Which factor makes an IRA superior to a regular stock portfolio for saving for retirement? Select the best answer from the choices provided. A. IRAs are exempt from some taxes. B. IRAs earn money at a higher interest rate. C.
Answers (1)
The reason that more children play hockey and more adults watch hockey in the Northeast United States and more children play football and more adults follow football in the Southeast United States is founded in individual factors. True False
Answers (1)
Under the equity method, the receipt of cash dividends on an investment in common stock of vallerio corporation is accounted for as a debit to cash and a credit to
Answers (1)
The persian/arabian gulf's leading city in terms of business, entertainment, and consumer services is:
Answers (1)
When the Coffee Collective purchases advertisements on the radio announcing its new patio and encouraging dog-loving coffee drinkers to come by the new patio soon, the Coffee Collective appears to be using which type of advertising?
Answers (1)