Draw the demand curve of marginal benefit, Cost Accounting

Assignment Help:

The total demand (marginal benefit) curve for visiting Yosemite is as follows: Price = 5000-10*NumberOfTrips -10*TonsOfVisibleTrash.

a. Suppose the quantity of trash=100 tons. Draw the demand curve below, being sure to label the axes and the slope and intercept appropriately.

b. Does the quantity of trash increase or decrease the willingness to pay for an additional trip?

c. Suppose the park charges an entrance fee of $100. What is the total net benefit to consumers who visit the park (the "consumer surplus") if this is the only travel costs (all other costs of the trip are zero)? In answering this question, continue to assume that the quantity of trash remains 100 tons.

d. Now assume the park implements a cleanup program to reduce the trash in the park to 20 tons. Assuming the entrance fee from c) remains the same, what is the new consumer surplus? What was the economic benefit to park visitors from the cleanup program?

 


Related Discussions:- Draw the demand curve of marginal benefit

Gross rental revenue, Operating Income 1. Operating Income is derived f...

Operating Income 1. Operating Income is derived from two sources, Rental Income from businesses operating in the warehouse complex and Interest Income of the project operating

Is there barely one way to conduct fca, Q. Is there barely one way to condu...

Q. Is there barely one way to conduct fca? Ans. No. It is significant for each area to put the FCA process in perception with its waste management goals. Every community w

Why does rent control result in a shortage of rental unit, 1. Why does rent...

1. Why does rent control result in a shortage of rental units. 2. How does price elasticity of demand affect how much of a tax is passed on to the consumer and how much is absor

Estimate cost of financing, Calculate the equal monthly payments and the co...

Calculate the equal monthly payments and the cost of financing on a 10-year mortgage. The cash value of the house today is $500,000. You are paying monthly at a fixed rate of 6% pe

Find the total amount of product costs, for financial accounting purposes, ...

for financial accounting purposes, what is the total amount of product costs incurred to make 10,000 units?

What is the carrying value of the asset, Dolphin Company uses special strap...

Dolphin Company uses special strapping equipment in its packaging business. The equipment was purchased in January 2013 for $8,000,000 and had an estimated useful life of 8 years w

Making variance analysis more meaningful, Making Variance Analysis More Mea...

Making Variance Analysis More Meaningful To compose variance analysis as useful aid to management is the main objective of variance calculations.  However this can only be don

#title., prepare cost accounting sheet

prepare cost accounting sheet

Assignment, What is the major value of the weighted cost of capital calcula...

What is the major value of the weighted cost of capital calculation for the firm?

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd