managerial economics

timer Asked: Feb 20th, 2015

Question Description

I’m working on a Economics exercise and need support.

"Joe enjoys fishing and goes out about 20 times per year. One day, his wife, Sarah, told him that fishing is simply too expensive a hobby. "I think that you should stop going fishing" she exclaimed. "I did a little calculation, and figured that it costs us about $28.75 for every fish that you catch because you usually catch about 20 fish per trip. Besides, I always end up having to clean them. We would be much better off buying ready-to-cook fish from the local fish market."

Comment on Sarah's remarks. Do you agree with her argument? Explain.

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