Ask Question, Ask an Expert


Ask Microeconomics Expert

Suppose the state is trying to decide how many miles of a very scenic river it should preserve. There are 100 people in the community, each of whom has an identical inverse demand function given by P=10-1.0q, where q is the number of miles preserved and P is the per-mile price he or she is willing to pay for q miles of preserved river.

(a) If the marginal cost of preservation is $500 per mile, how many miles would be preserved in an efficient allocation?

(B) How large is the economic surplus?

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M948279

Have any Question? 

Related Questions in Microeconomics

Microeconomics assignmentdirections unless otherwise stated

Microeconomics ASSIGNMENT Directions: Unless otherwise stated, answer in complete sentences, and be sure to use correct English, spelling and grammar. Sources must be cited in APA format. Your response should be four (4) ...

Assignmentuse the globaledge website to complete the

Assignment Use the globalEDGE website to complete the following exercises: • The World Trade Organization maintains a database of regional trade agreements. You can search this database to identify all agreements that a ...

Managerial economics discussionexamine the common price

Managerial Economics Discussion Examine the common price setting strategies of airlines that use game theory. Predict the potential effects of such pricing strategies on the demand for seats, and conclude the resulting i ...

From the scenario for katrinas candiessuggest one1method in

From the scenario for Katrina's Candies,suggest one(1)method in which Herb could use a cost-benefit analysis to argue for or against an expansion. Create three optimal decision rules for Katrina's Candies(e.g.,whether to ...

Assignment1perform an industry analysis for each of ibms

Assignment 1. Perform an industry analysis for each of IBM's top market segments: services, software, and hardware. Are these attractive industries? Why or why not? 2. Looking at IBM's RCCs, can IBM gain and sustain a co ...

Discussion questionsanswer both questions 1 and 2 below in

Discussion Questions Answer both questions 1 and 2 below in this same discussion. 1. Research the Microbead-Free Waters Act of 2015 and the Main Street Fairness Act and discuss: • Why do you think the Microbead Act becam ...

Assignmentwhat are the foundations of a comprehensive job

Assignment What are the foundations of a comprehensive Job Analysis? How do organizations utilize a Job Analysis Questionnaire? Does research support that a job analysis leads to an effective job description? Opine on ho ...

Accounting for decision making- learning objectives- to

Accounting for Decision Making- Learning Objectives- To understand the types of information included in a business case and how the content of the business case will be shaped by the information needs of interested stake ...

Assignmentwhen completing the las in the weekly discussions

Assignment When completing the LAs in the Weekly Discussions please follow these directions and format: In your narrative response to the LAs, start out by first clearly identifying, defining and explaining the managemen ...

Prepare 100 words summary for class discussioncreative

Prepare 100 words summary for class discussion Creative Destruction by W. Michael Cox and Richard Alm Joseph Schumpeter (1883-1950) coined the seemingly paradoxical term "creative destruction," and generations of economi ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

A cola-dispensing machine is set to dispense 9 ounces of

A cola-dispensing machine is set to dispense 9 ounces of cola per cup, with a standard deviation of 1.0 ounce. The manuf

What is marketingbullwhat is marketing think back to your

What is Marketing? • "What is marketing"? Think back to your impressions before you started this class versus how you

Question -your client david smith runs a small it

QUESTION - Your client, David Smith runs a small IT consulting business specialising in computer software and techno

Inspection of a random sample of 22 aircraft showed that 15

Inspection of a random sample of 22 aircraft showed that 15 needed repairs to fix a wiring problem that might compromise

Effective hrmquestionhow can an effective hrm system help

Effective HRM Question How can an effective HRM system help facilitate the achievement of an organization's strate