Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
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.
c. Suppose the marine preserve charges an entrance fee of $100. What is the total net benefit to consumers who visit the park (the "consumer surplus")? In answering this question, continue to assume that fish biomass remains at the level in part b. Also, assume that the only cost to visitors is the entry fee (clearly not the case generally).
d. Now assume the park implements a program that drastically limits fishing activities within the preserve and engages in a coral restoration program. The result is a 50% increase in fish biomass from the levels described in part b. Assuming the entrance fee from c) remains the same, what is the new consumer surplus? What is the economic benefit (net of costs) to park visitors from the cleanup program? What is the impact on revenues from park visitation?
Which one of the following statements is correct? A. Most production possibilities curves illustrate decreasing marginal opportunity costs. B. Relative scarcity is no longer
Using a short-run Phillips Curve, illustrate the change in inflation and unemployment resulting from the increase in profit expectations.
Kate uses a sewing machine to alter and repair clothes for one year in her own small business, Kate's Tailoring. She earns $20,000 during the year for various sewing projects. In t
what are the purposes of taxation
What is Treasury bills In most countries you will find many types of government bonds. An important distinction is the duration of the bond, that is, the difference between the
The AS-AD model with inflation When we remove assumption of constant prices to allow varying real wages. Resulting model was known as AS-AD model. Similarly we now remove the a
what is the meaning of the statement ''money is not merely a veil or wrapper''?
If the price of a good rises, what are people likely to do? a Substitute a less expensive good b Buy more of the good c Buy more of all goods because of added buying power d All of
WHAT ARE THE SOURCES OF MONOPOLY
Evaluate the impact of an aging population on state and local government expenditures. Suggest strategies that government should take in dealing with this situation. Justify your r
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd