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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.
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choose a topic from microeconomics that matters to you and find a recent news article covering that topic?
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Below are three questions. WRITE A BRIEF NOTE OF EXPLANATION IN ANSWER TO EACH PART OF EACH QUESTION. The marks awarded will depend on the quality of the reasoning exhibited and th
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