On a Tropical Island There Are 100 Potential Boat Builders

On a tropical island there are 100 potential boat builders, numbered 1 through 100.Each can build up to8 boats a year, but anyone who goes into the boatbuilding business has to pay a fixed cost of $7.Marginal costs differ from person to person.Where y denotes the number of boats built per year, boat builder 1 has a total cost function c(y) = 7 + y.Boat builder 2 has a total cost function c(y) = 7 + 2y, and more generally, for each i, from 1 to 100, boat builder i has a cost function c(y) = 7 + iy.If the price of boats is 15, how many boats will be built per year?

A) 112
B) 64
C) 32
D) 168
E) Any number between 120 and 128 is possible.

Correct Answer:

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Access For Free