Suppose that it costs $300 per day to search for chanterelle mushrooms at Pt. Reyes National Seashore. On an average day, the total weight of mushrooms M found at Pt Reyes is M=100x-x2 pounds where x is the number of people mushroom hunting on that day. Chanterelles can be sold for $80 per pound. How many more people will go mushroom hunting than is socially optimal?

Suppose that it costs $300 per day to search for chanterelle mushrooms at Pt. Reyes National Seashore. On an average day, the total weight of mushrooms M found at Pt Reyes is M=100x-x2 pounds where x is the number of people mushroom hunting on that day. Chanterelles can be sold for $80 per pound. How many more people will go mushroom hunting than is socially optimal?

MACROECONOMICS FOR TODAY

10th Edition

ISBN:9781337613057

Author:Tucker

Publisher:Tucker

Chapter4: Markets In Action

Section: Chapter Questions

Problem 17SQ

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Suppose that it costs 500 per day to search for chanterelle mushrooms at Pt.Reyes National Seashore.On an average day, the total weight of mushrooms M found at Pt. Reyes is M = 100x - x2 pounds where x is the number of people mushroom hunting on that day. Chanterelles can be sold for $80 per pound. How many more people will go mushroom hunting than is socially optimal ?
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