Draw the demand curve - axes, slope and intercept, Microeconomics

Assignment Help:

1. 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.


Related Discussions:- Draw the demand curve - axes, slope and intercept

Economic profit in a monopoly 2006 ap exam, is it just assumed that a monop...

is it just assumed that a monopoly graph is showing economic profit instead of accounting profit

Production theory, why does gap between the ATC curve and the AVC curve dec...

why does gap between the ATC curve and the AVC curve decreases as the level of output increases

Total revenue curve, draw the total revenue curve and the total cost curve ...

draw the total revenue curve and the total cost curve showing the profit maximizing level

Microeconomics, define and explain the concept of social efficent productio...

define and explain the concept of social efficent production

Elasticity of demand, elasticity of demand for demand function Q=10-2p for ...

elasticity of demand for demand function Q=10-2p for decrease in price from Rs 3 to Rs 2

Mixed economy, How solve central problem of economy in mixed economic syste...

How solve central problem of economy in mixed economic system?

Contribution of capital accumulation, Question:  Explain the contribution ...

Question:  Explain the contribution of capital accumulation in the progress of an economy? Capital makes the technological progress of the economy possible. Different technol

Estimate the decline parameters and economic rate of return, 1. The figure ...

1. The figure below is historical production data from the Kuparuk River field. The OOIP is 5,332,979 Mstb and cumulative recovery through 12/31/2004 is 1,971,200,654 stb.

Project, Sir/Ma''am i have to make a project of 4-5 page on Investigating t...

Sir/Ma''am i have to make a project of 4-5 page on Investigating the buying behavior of individuals in the white goods sector and seeing if there exists any negative relationship b

Explain the meaning of inflation, Problem 1: (a) Explain the meaning of...

Problem 1: (a) Explain the meaning of inflation. (b) "Inflation is always and everywhere a monetary phenomenon." Discuss this statement. (c) Briefly explain the link betw

Write Your Message!

Captcha
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