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?
"The price of Brent crude oil has hit $111 a barrel and US crude also rose in price, as worries persist about the unrest in Libya". (BBC News, 2011) This quote, from the BBC news w
Define the interpreting the price elasticity of demand. Interpreting the Price Elasticity of Demand: Demand is: a. Elastic when the price elasticity of demand is greater
What is the formula for consumer price index?
factors affecting national income
Suppose that a paper mill "feeds " a downstream box mill. For the downstream mill, the marginal profitability of producing boxes declines with volume. For example, the first unit o
Consider two bonds. Each has a face value of $100 and matures in one year. One has a zero coupon payment, and the other pays $10 per year. A. Explain how the two bonds differ
Pucker Lemonade, Inc., is a small company that produces bottled lemonade. Pucker's fixed cost includes the monthly rental cost of the lemon-smashing machines, the bottling machines
Suppose you are the production manager for Widgets, Inc. Your job is to produce a fixed amount of output at the lowest cost possible. When you take over the position, you find that
The rate of interest in the UK also showed very interesting results, to an impulse shock on oil price. The middle left graph from Fig 4.4 shows the results. Initially, in the short
Suppose you have decided to do some savings. You will deposit $200 this year into an account that earns 2% per year and increase the amount deposited each year by 20% in every year
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: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd