Question

You are hired as a consultant for a fishing company. They wish to maximize profits by determining the ideal number of workers. The number of fish caught per week is a function of the number of crew on the boat, as follows:

Number of Crew	Fish Caught per Week (units of 100lbs)
2	3
3	6
4	11
5	19
6	24
7	28
8	31
9	33
10	34
11	34
12	33

The owner tells you that he can sell any fish caught at $750/unit. Each crewmember earns $1500 per week.

1. What is the profit maximizing number of crew?
2. Describe any rule or economic intuition behind how/why you arrived at this number. (Hint: "I tried all the numbers" will not get full credit.)

Answer 1