The government of a subtropical country is evaluating the costs and benefits of protecting a rainforest versus cutting it down for timber. The estimated value of the wood is $270$⁢270 million. If the same forest is used as a national park, it may attract 0.030.03 million additional tourists per year. Statistically, each tourist spends $1,600$⁢1,600 inside the country during their stay. How long will it take tourism to exceed the estimated value of the wood in the rainforest? Enter your answer in the box below and round to two decimal places if necessary.

The government of a subtropical country is evaluating the costs and benefits of protecting a rainforest versus cutting it down for timber. The estimated value of the wood is $270$⁢270 million. If the same forest is used as a national park, it may attract 0.030.03 million additional tourists per year. Statistically, each tourist spends $1,600$⁢1,600 inside the country during their stay. How long will it take tourism to exceed the estimated value of the wood in the rainforest? Enter your answer in the box below and round to two decimal places if necessary.

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter17: Long-term Investment Analysis

Section: Chapter Questions

Problem 3.3CE

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