Price of a visit Dum Visits per year Assume this graph is providing the travel cost model results from a study on walking trails in a forest. What would you expect to happen to P1 and V1 if the parks initiated a program that eliminated a trash problem that the trails were previously experiencing? P1 and V1 would both decrease. P1 and V1 would both increase. P1 would increase while V1 would decrease. P1 would decrease while V1 would increase.

Price of a visit Dum Visits per year Assume this graph is providing the travel cost model results from a study on walking trails in a forest. What would you expect to happen to P1 and V1 if the parks initiated a program that eliminated a trash problem that the trails were previously experiencing? P1 and V1 would both decrease. P1 and V1 would both increase. P1 would increase while V1 would decrease. P1 would decrease while V1 would increase.

Microeconomics: Principles & Policy

14th Edition

ISBN:9781337794992

Author:William J. Baumol, Alan S. Blinder, John L. Solow

Publisher:William J. Baumol, Alan S. Blinder, John L. Solow

Chapter16: Externalities, The Environment, And Natural Resources

Section: Chapter Questions

Problem 2DQ

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