Suppose it costs 30 for each lobster trap set lobsters sell, Microeconomics

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Suppose it costs 30 for each lobster trap set lobsters sell

Suppose it costs $30 for each lobster trap set. Lobsters sell for $15. If X traps are set, the harvest rate of lobsters, L, as a function of the number of traps, is given by: L = 45 X –X2. With no restrictions on the number of traps, and open access to the waters, how many traps will be set? How many lobsters will be harvested? How much profit will be realized from bolstering?

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Microeconomics: Suppose it costs 30 for each lobster trap set lobsters sell

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Microeconomics: Suppose it costs 30 for each lobster trap set lobsters sell

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