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

Economic Reforms and Infrastructure Growth Infrastructure data for the pre-reform period (1980-81 to 1990-91) is with1980-81 as base year and for post-reform period (1993-94 t

Which of the following is evidence of market power? a. Output is fixed despite cost changes b. Optimal Output is less than industry output c. Output changes as cost changes

The law of supply is that producers will supply more the higher the price of the commodity.  The supply curve is an upward sloping function showing a direct relationship among pric

Explain the effect of increased money supply on bond prices

-1- ASSIGNMENT #1 The demand function for Product X is given by: Qdx = 80- 2Px- 0.05P²x -0.2Py + 4Pz + 0.01I+ 2A Where: Px Price of good X $120.00 Py Price of related good y $100.0

use a graphical illustration to describe briefly what the influence of each of the following would be on the market supply of labour on an increase in immigration..

What are the causes of emergence of monopoly?

Market-Friendly Reforms: One main shortcoming of present development cooperation is that recipients of development cooperation is that recipients of development finance are d

1. Sam Smith owns an internet radio company that has subscribers in Houston and Dallas. The demand functions for the 2 markets are: Q(Houston) = 50-0.35P(Dallas) Q(Dallas) = 80-0.