Conducts a travel cost study of recreational visits to grand

Reference no: EM13690204

A team of researchers conducts a travel cost study of recreational visits to Grand

Teton National Park in Wyoming In addition to uncovering the marginal benefit to visitors from a given number of trips, the researchers also considered how the population of bighorn sheep affects the marginal benefits from visitation. This study reveals an annual demand curve for visits to the park as follows: Price = 10,000 â€“ 10*NumberOfTrips + 50*AvgNumSheep, where AvgNumSheep is the average number of sheep seen by a typical visitor per day.

Assume the average person sees 2 sheep per day. Graph the demand function for the number of trips to the park below. If the park charges an entrance fee of $100 per visitor, how many visitors do you expect?

Reference no: EM13690204

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