fish lab - profit of $247,500,000 However the most...

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Steve Avery March 23, 2005 Bisc. 102 TA: Louis Fish Lab Determining an equilibrium point between maintaining a stable population of fish and gaining profit can be tricky. The idea behind the simpler harvesting strategies is that if you don’t want the fish to go extinct, then at least as many fish better be produced each year as you take out. There are many different strategies that can be used. First, you can use the graph data to find the net number of fish each year, and harvest them so you always stay at one place on the growth rate curve. With this, you can find the maximum production and try to bring the population to that point. The second strategy involves figuring out how much fishing effort it cost to catch that many fish, and use that to figure out profit. Two strategies that were used in the lab involved using catch limits and not using catch limits. The most profitable involved run 2C, where I used catch limits and I made a
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Unformatted text preview: profit of $247,500,000. However, the most effective run was 2E, because we not only made a lot of profit ($213,750,000), but we also kept a stable population throughout the process. In this situation the catch limits for both adults and sub-adults were decreased. When I didn’t use catch limits, I still ended up near the same profits as with catch limits. There was roughly a $20 million differential between the two settings. I think what accounts for the loss in profit is that with catch limits, they are saving more fish for each of the upcoming years. Without the catch limit, they make all their profit in the first year, and save no fish for the upcoming years, which leads to less profit overall. A key component into creating the most profit is maintaining a stable population, which the catch limit helps create....
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