Suppose Al, Betty, and Carl Own the Only Fishing Companies

Multiple Choice

Suppose Al, Betty, and Carl own the only fishing companies in your village. Suppose the market price today is $10 per fish. Suppose Al catches 4,000 fish with an average totalcost of $7.50, Betty catches 6,000 fish with an average total cost of $6, and Carl catches10,000 fish with an average total cost of $7. How much would Betty's average total cost have to fall in order for her to make as much total profit as Carl?

A) $1
B) $2
C) $4
D) $5
E) Betty cannot make as much profit as Carl with only 6,000 fish.