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
Statistical methods are considered to be superior techniques of demand estimation because: a. The element of subjectivity in this method is minimum, b. Methods of es

Cost in the Short Run Marginal Cost (or MC) is the cost of expanding output by one unit.  As fixed costs have no impact on marginal cost, it can be given as: Average Total

Q. Describe the Theory of effective demand ? Effective Demand:Theory of effective demand was developed separately in the 1930s by Michal Kalecki andJohn Maynard Keynes. It eluc

"If for a certain market, the concentration ratio CR4 (the combined market share of the 4 largest firms) is 1, its Herfindahl index is at least 0.25." Describe the given statement.

Discuss how the opportunity cost principle influence a supplier''s decision to supply labour

Explain why each of the following factors may influence the own price elasticity of demand for a commodity. (i) Consumer preferences, that is, whether consumers regard the commod

Air is one of the important constituent in the environment that is prone to pollution. Pollution of air refers to that part of atmosphere which is very nearest to the earth’s surf

run a s monopoly how will this benefit stakeholders involved, such as the goverment, businesses, and consumers?

Q. What do you mean by Costs? Costs Section 56 of the Environment Act describes costs as including ‘costs to any person and costs to the environment'. The costs of a project a

Q. What do you meant by Enclosures? Enclosures: A historic process in Britain and other European countries, in very early years of capitalism, in that lands formerly held and u