We investigate a chemostat model in which the growth rate is given by a Tessier expression with a variable yield coefficient. We combine analytical results with path-following methods. The washout conditions are found. When washout does not occur we establish the conditions under which the reactor performance and reactor productivity are maximised. We also determine the parameter region in which oscillations may be generated in the reactor. We briefly discuss the implications of our results for comparing the performance of a single bioreactor against a cascade of two bioreactors.