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 10 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: What is the monthly net benefit that Anatole derives from fishing at lake Elsinore when the water is clean? O a. 280 Ob. 245 OC 385 Od. 525

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 10 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: What is the monthly net benefit that Anatole derives from fishing at lake Elsinore when the water is clean? O a. 280 Ob. 245 OC 385 Od. 525

Personal Finance

13th Edition

ISBN:9781337669214

Author:GARMAN

Publisher:GARMAN

Chapter1: Understanding Personal Finance

Section: Chapter Questions

Problem 3FPC

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