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

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.

Posted Date: 3/22/2013 7:04:40 AM | Location : United States







Related Discussions:- Draw the demand curve - axes, slope and intercept, Assignment Help, Ask Question on Draw the demand curve - axes, slope and intercept, Get Answer, Expert's Help, Draw the demand curve - axes, slope and intercept Discussions

Write discussion on Draw the demand curve - axes, slope and intercept
Your posts are moderated
Related Questions
Explain the role of managerial ecnomist in kissan &dipsy fro ub group


Price elasticity of supply: It is the responsiveness of quantity supplied of a commodity to a change in the price of the commodity and measured as percentage change in quantit


Explain about the term cost function. Cost Functions This function measures the minimum cost of producing a specified level of output for some fixed factor prices. Likewise

diagrammatically condition of consumer equilibirium

How dose PPC help, illustrate the basic economic problem?

THEORY OF DEMAND: The  consumer behaviour under indifferencecurve approach where it is assumed that the consumer possesses a utilityfunction. The next most important theory th

Determinants of investments: Expected Rate of Return: Investment spending is guided by the profit motive; thebusiness sector buys capital goods only when it expects such

The drawbacks of a mixed economy actually depend on how "mixed" it is. For instance, if it is mixed more towards a free-market, there is little regulation (some may see this as a g