Business, 23.05.2020 01:01 mlguerrero12

Fortville must decide how much open space land to acquire. Residents enjoy the recreation and amenity benefits of the open space, but acquiring and managing land is costly. You have determined that amongst the 15 residents of the town, 10 residents have preferences for open space land given by Demand function 1 below, and the remaining 5 residents have preferences given by Demand Function 2, where P represents the Marginal Benefit and Q the acres of open space.
Demand Function 1: P 100-.05Q
Demand Function 2: P = 75-.25Q
A. Graphically illustrate the market demand function for open space, which is a public good. Be careful to account for the fact that the marginal benefits of open space cannot be negative.
B. If the marginal cost to the town of acquiring and managing an acre of open space is $700, how many acres should the town acquire if it's objective is to maximize net social benefits? What are the total benefits and total costs associated with this decision?

Answers: 2

Show answers

Another question on Business

Business, 22.06.2019 01:30

Side bar toggle icon performance in last 10 qs hard easy performance in last 10 questions - there are '3' correct answers, '3' wrong answers, '0' skipped answers, '1' partially correct answers about this question question difficulty difficulty 60% 42.2% students got it correct study this topic • demonstrate an understanding of sampling distributions question number q 3.8: choose the correct estimate for the standard error using the 95% rule.

Answers: 2

Answer

Business, 22.06.2019 09:00

Consider the scenario below and let us know if you believe lauren smith's actions to be ethical. let us know why or why not. lauren smith is the controller for sports central, a chain of sporting goods stores. she has been asked to recommend a site for a new store. lauren has an uncle who owns a shopping plaza in the area of town where the new store is to be located, so she decides to contact her uncle about leasing space in his plaza. lauren also contacted several other shopping plazas and malls, but her uncle’s store turned out to be the most economical place to lease. therefore, lauren recommended locating the new store in her uncle’s shopping plaza. in making her recommendation to management, she did not disclose that her uncle owns the shopping plaza. if management decided to go with lauren's uncle's plaza, what additional information would be needed in the financial statements?

Answers: 2

Answer

Business, 22.06.2019 20:10

While cell phones with holographic keyboards are currently in the introduction stage of the industry life cycle, tablet computers are in the growth stage. in the context of this scenario, which of the following statements is true? a. the industry for cell phones with holographic keyboards will face greater competition than the tablet industry. b. while the industry for cell phones with holographic keyboards will focus more on product innovation, the tablet industry will focus more on process innovation. c. while the industry for cell phones with holographic keyboards can reap the benefits of economies of scale, the tablet industry will experience no such benefits. d. the industry for cell phones with holographic keyboards will face price competition, whereas, in the tablet industry, the mode of competition will be non-price.

Answers: 2

Answer

Business, 22.06.2019 22:30

Using the smith's bbq report, the cost of wine for next week will increase by 2% from the current week. if all other cost of sales stays constant, what will be the approximate total cost of sales for next week?

Answers: 2

Answer

You know the right answer?

Fortville must decide how much open space land to acquire. Residents enjoy the recreation and amenit...

Questions