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Unformatted text preview: a. We illustrated in Figure 9.5 the effect of a change in q on demand for visits, v. How would you expect the other variables, f and y, to affect v? b. Given your answers to part a, can we say what will happen to the demand for park visits when the wage rate, w, increases? Keep in mind that y depends on w. Ch. 9 #7 To calculate the demand curve, you need to calculate the total price of a park visit and the visitation rate (following Section II.D. Implementation). I recommend doing this problem in Excel....
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This note was uploaded on 04/02/2010 for the course ECON Econ 115 taught by Professor Kolstad during the Spring '10 term at UCSB.
- Spring '10
- Environmental Economics