HW 2q - AEM 250: Environmental and Resource Economics...

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AEM 250: Environmental and Resource Economics Homework 2 Distributed: Feb. 9, 2007; Due by end of class on Feb. 16, 2007 10 Points, with each question counting equally. All graphs should be clearly labeled and all other work legible. If we are unable to interpret your work, you will receive a lower score. 1. Suppose that Portage County, Wisconsin’s ground water was contaminated with nitrates, and that two consumers (C1 and C2) live in this famed “sand county”. Below are the individual demand functions for bottled water by the 2 consumers whose homes draw water from wells, where P indicates price and Q indicates quantity. Q C1 = 20 – 4*P Q C2 = 10 - 2*P a. Create a demand schedule for each consumer at the following prices: 0, 0.50, 1, 1.50, 2, 2.50, 3, 3.50, 4, 4.50, and 5, in which the first column is prices, the second column is the quantity demanded for the first consumer, the third column is the quantity demanded for the second consumer, and the 4 th column is identified below. b.
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This homework help was uploaded on 11/17/2007 for the course AEM 2500 taught by Professor Poe,g. during the Spring '07 term at Cornell University (Engineering School).

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HW 2q - AEM 250: Environmental and Resource Economics...

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