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An open access fishery for king crab is available in open waters. There are n identical fishing boats. The total harvest revenue from all n boats is Y = aX - bX² where a and b are parameters while X is total inputs from all fishing boat such that X = x₁ + x₂ +___+ xₙ. The revenue for an individual fishing boat is a proportion of total harvest revenue such that y₁ = Y xᵢ/x where x, is the input by one fishing boat. Total cost by one boat is cxi. X

Solve for the Nash equilibrium input level by one fishing boat. Given this individual level, solve for the aggregate level of input.

Sagot :

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