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
The concept of opportunity cost occupies a very important place in modern economic analysis. The opportunity cost of any good is the next best alternative goods that are sacrificed

draw a PPF when a hurricane slows down the nest two months of butter production?

if nominal GDP in 2002 exceeds nominal GDP in 2001, did real output rise?

Explain crowding out and why it may be considered important for policy makers. Crowding out refers to how enhanced government borrowing (real borrowing!) might serve to raise i

(a) Reasons of Urban Growth (b) Characteristics of Urban Growth (c) Economic Life of a Building (d) Zone of Transition (e) Location Theory (f) Patterns of Growth Theory (g) Growth

assume you are selling a product and when your price is decreased by 29% your quantity demanded increases by 55%. What is your price elasticity of demand?

You are the final voter in a brand new start-up league, the Ultra Fun Foosball League (UFFL). The directors are looking to you to make the decisions on how many teams to place in a

I have to do a project on the blocks in periodic tables. How specifically should I describe them? Should I describe each block''s characteristics, and if so, which ones? P.S. This

Q. Describe Consumer Price Index? Consumer Price Index:Consumer price index (CPI) is a measure of overall price level paid by consumers for various services and goods they purc