E202ProblemSet5.2

E202ProblemSet5.2 - to see the caves on the same day. The...

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a. Calculate the weekly shortage of used DVDs that will result from this policy. b. Calculate and graph the total economic surplus lost every week as a result of the price ceiling. 3. The Kubak crystal caves are renowned for their stalactites and stalagmites. The warden of the caves offers a tour each afternoon at 2pm sharp. The caves can be shown to only four people per day without disturbing their fragile ecology. Occasionally, however, more than four people want
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Unformatted text preview: to see the caves on the same day. The following schedule lists the people who wanted to see the caves on September 24, 2003, together with their respective times of arrival and reservation prices for taking the tour that day. Arrival time Reservation price ($) Hermann 1:48 20 Jon 1:50 14 Kate 1:53 30 Jack 1:56 15 Penny 1:57 40 Fran 1:59 12 Faith 2:00 17...
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This note was uploaded on 02/20/2012 for the course ECON 202 taught by Professor Brightwell during the Spring '08 term at Texas A&M.

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