What is the anticipated b/c ratio of this recreation area

Reference no: EM133662404

Assignment:

The Boundary Waters Canoe Area Wilderness (BWCA) located in northeastern Minnesota, has 1 million acres of wilderness, 1,000 waterways, and 1,500 miles of canoe routes. While some youth, for example those in the Boy Scouts, are on high-adventure treks for 10 days at a time, it is common to have the rest of their family take advantage of the opportunity to also enjoy the BWCA area. A new area for this purpose is to be developed and will have an equivalent annual cost of $30,000, including initial cost (design, clearing, potable water, restrooms, showers, road, etc.), operating, upkeep, and security. Approximately 250 families will camp for 8 days each during the summer season. Another 2,200 persons will be admitted for single-day use of the facilities during the summer season. Although there are currently no fees charged, the average family camping in the area is willing to pay $12.00/night for the privilege, with some willing to pay more and some less. The average day user would be willing to pay $4.00/day, again some more and some less.

*Assume that the # of days and nights are the same in this problem; do not assume that the # of nights are one less than the # of days.

a) What is the anticipated B/C ratio of this recreation area?

b) What is the value of B - C?

Reference no: EM133662404

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