With Gambia’s marine resources abundance, it is appropriate for Gambia’s economic growth to gear towards the fisheries sector. Fishery management in The Gambia is still not operating optimally due to a lack of fisheries management infrastructure.This study has uncovered important aspects of the fishing industry, especially in The Gambia. If the right policies and guidelines are put in place, the majority of waste and the depletion of renewable resources might be avoided. It is possible to maximize utilities without wasting resources. The solutions of the total cost (TC), total revenue (TR), and price functions of an operation are all given using differential equation.The original equation of Schaefer's model forced numerous researchers to shed light on the spatial distribution of fish and fisheries. Using a cost operation model and an analysis of the rate of change over time, the author of this study found that fishing expenses can be decreased without compromising effectiveness or efficiency. The model was also expanded to include non-autonomous price and cost characteristics.This study will inspire other academics and researchers to take similar actions to stop the decline and near-extinction of the critically important fish fishery, not only in The Gambia but also along the entire coast of West Africa, given that the fishes are highly migratory and a shared resource among the countries in the subregion.
Cost-benefit, Revenue, Fishery Dynamics, Optimal Policy, Pricing, Sustainability
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