Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
The total demand (marginal benefit) curve for visiting the Great Barrier Reef is as follows: Price = 5000+100*Fish Biomass (tons per square mile) -10*Number of Trips.
a. Does the quantity of fish biomass increase or decrease the willingness to pay for an additional trip?
b. Suppose the density of fish is 2 tons per square mile. Draw the demand curve below, being sure to label the axes and the slope and intercept appropriately.
c. Suppose the marine preserve charges an entrance fee of $100. What is the total net benefit to consumers who visit the park (the "consumer surplus")? In answering this question, continue to assume that fish biomass remains at the level in part b. Also, assume that the only cost to visitors is the entry fee (clearly not the case generally).
d. Now assume the park implements a program that drastically limits fishing activities within the preserve and engages in a coral restoration program. The result is a 50% increase in fish biomass from the levels described in part b. Assuming the entrance fee from c) remains the same, what is the new consumer surplus? What is the economic benefit (net of costs) to park visitors from the cleanup program? What is the impact on revenues from park visitation?
circular flow of national income?
Elements of Walmart's strategy have evolved in meaningful ways since the company's founding in 1962. Prepare a one page report that discusses how its strategy has evolved after rev
How can a country maintain equilibrium GDP with foreign trade?
Compute the mean and variance of the following discrete probability distribution. Where X=2, and P(x)=.5. Where X=8 and P(X) .3. Where X=10 and P(X) =.2.
A recent article estimated that the elasticity of the rate of gonorrhea with respect to the price of beer is about 0.8. If this estimate is correct, are unprotected sex and beer su
Two people are engaged in a joint project. If each person i puts in the effort x i , the outcome of the project is worth f ( x 1, x 2). Each person's effort level x i is a
Robert's New Way Vacuum Cleaner Company is a newly started small business that produces vacuum cleaners and belongs to a monopolistically competitive market. Its demand curve for t
What is most likely to go wrong in the analysis of direct material and other direct costs and what could be done about it.
If the price of DVD players decreases, we can expect that the demand for DVDs will: a. increase. b. be unaffected. c. shift left. d. Decrease
Determine Why banks raise their interest rates A way to explain why banks raise their interest rates is as follows. With higher overnight interest rates, it is more expensive fo
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!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd