Economically efficicient quantity derived from MC equation and MB amount

FratBro23
Category:
Economics
Price: $5 USD

Question description

It's possible to hire a guide and boat to take you out fishing in the Gulf of Mexico. Suppose that the marginal benefit of each trip taken by customers is $100. Suppose that the marginal cost (MC) to companies of taking customers fishing (Q is the quantity of trips) can be represented by the equation MC = 15 + Q/60. Assume fishing trips are private goods and that they do not create externalities.

What is the economically efficient quantity of trips in this market?


I have tried it a million ways and I am sure I am missing one simple concept.  Please help! Thank you for your time.


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