Anatole is an addicted recreationist who loves to fish in Lake Elsinore. During the fall quarter I've been keeping track of when he goes fishing there, how much time and money he spends on each trip to the lake, different measures of site water quality, etc., and I have managed to estimate a demand curve for his trips to Lake Elsinore. I found that Anatole is so addicted to fishing that there are only two things that affect his behavior: the opportunity cost of a trip and the water quality (because fishing yield is better when the water is cleaner). There are no limitations to fish yield. My statistical analysis shows that Anatole's monthly demand for trips to the lake when the water is "clean" is given by g = 11-. ToP ; and his monthly demand for 1 trips when the water is "dirty" is given by q = 8 – p ; where p is his opportunity cost of a trip and q is the number of trips. 10 Suppose Anatole's opportunity cost of a trip (p) is $40. Answer the following questions: How much damage does Anatole suffer each month in terms of lost fishing enjoyment when the water quality deteriorates from clean to dirty? O a. 165 Ob. 120 OC. 200 Od.75

Anatole is an addicted recreationist who loves to fish in Lake Elsinore. During the fall quarter I've been keeping track of when he goes fishing there, how much time and money he spends on each trip to the lake, different measures of site water quality, etc., and I have managed to estimate a demand curve for his trips to Lake Elsinore. I found that Anatole is so addicted to fishing that there are only two things that affect his behavior: the opportunity cost of a trip and the water quality (because fishing yield is better when the water is cleaner). There are no limitations to fish yield. My statistical analysis shows that Anatole's monthly demand for trips to the lake when the water is "clean" is given by g = 11-. ToP ; and his monthly demand for 1 trips when the water is "dirty" is given by q = 8 – p ; where p is his opportunity cost of a trip and q is the number of trips. 10 Suppose Anatole's opportunity cost of a trip (p) is $40. Answer the following questions: How much damage does Anatole suffer each month in terms of lost fishing enjoyment when the water quality deteriorates from clean to dirty? O a. 165 Ob. 120 OC. 200 Od.75

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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