What is the efficient number of people to use simon shore

Assignment Help Management Theories
Reference no: EM131448916

Simon owns land along the shore of Lake Michigan. The table below describes the marginal benefits to tourists of recreating along his property (per person who has access for a day), as well as the marginal costs to Simon of more people getting access to the shore (due to litter, noise, and seeing other people on the shore).

No. People

1

2

3

4

5

6

7

8

9

10

Marginal Benefit, People

150

110

80

60

40

25

10

-10

-30

-60

Marginal Cost, Simon

10

20

30

40

50

60

70

80

100

125

(a) If Simon could not limit access across his property to the shore or otherwise limit or influence tourists' behavior, how many people would go to the seashore? (Fractions of people cannot exist. Give a whole-number answer.) Explain your answer.

(b) What is the efficient number of people to use Simon's shore? (Fractions of people still cannot exist. Give a whole-number answer.) Explain your answer.

(c) Now, Simon has the right and the ability to prevent people from using his property. In the absence of government programs to control seashore access, is there any way that the efficient solution might be achieved? If so, how? If not, why not?

Reference no: EM131448916

Questions Cloud

Common reasons for crashing a project : 1) What are the five common reasons for crashing a project?
Affecting the communication process : How are electronic communication devices (cell phones, e-mail, and websites including social media) affecting the communication process?
Determine appropriate sampling methodologies for business : Primary Task Response: Within the Discussion Board area, write 400-600 words that respond to the following questions with your thoughts, ideas, and comments.
Preparing to move your business from new jersey : Consider that you are a large organization and you are preparing to move your business from New Jersey to Arizona in 12 months.
What is the efficient number of people to use simon shore : What is the efficient number of people to use Simon's shore? (Fractions of people still cannot exist. Give a whole-number answer.) Explain your answer
Activities with the virgin group of companies : Give examples of how social interactions support group activities with the Virgin group of companies.
Calculate arbitrage profit per share and construct cash flow : calculate the arbitrage profit per share and construct a cash flow table that describes the trading strategy you would use to exploit the opportunity.
How much money will be in account after collecting payment : If your firm places the payments into an account earning 10% per year, how much money will be in the account after collecting the last payment?
Raising funds by selling stock rather than selling bonds : An advantage of raising funds by selling stock rather than selling bonds is that

Reviews

Write a Review

Management Theories Questions & Answers

  Learning in action

Learning contract proposal that will form the basis of your learning contract report.

  Change is the only constant

"Change is the only constant " Evaluate the different types of change that have occurred in Sony.

  How do advertisers try to use group influence

How do advertisers try to use group influence?  Will you find any specific examples and explain the relevant theory of group behavior and influence?

  Case study:saving sony

You have been appointed by Sony as a consultant on change management. Advise Sony on how they could implement the change by using the various theories of change you have learnt.

  How the stock market works

The purpose of this project is to help you to gain an understanding of how the stock market works and of the relationship between theory and practice.

  Find the optimal production quantities

Find not only the optimal production quantities, but also the optimal total cost.

  Describe the management process

Describe the management process and identify the skills required to manage business organizations.

  Case study : bert''s bonsai and aquatic sport museum

Case Study : Bert's Bonsai and Aquatic Sport Museum Prepare a knowledge management system.

  Knowledge management techniques

Demonstrate understanding of the many-sided nature of knowledge management

  Theory of transtheoretical model

Demonstrate understanding of the many-sided nature of knowledge management

  Write a paper on historical trends of management

Write a paper on Historical Trends of Management.

  Theory of reasoned action

Theory of Planned Behavior and Integrated Behaviors Model

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd