Suppose the aggregate daily demand for campsites in Yosemite Valley is: Campsites demanded each day = 1000 - 10*price, (q=1000-10p) where the price is a daily rental rate ($/campsite). Suppose Yosemite Valley currently has 500 campsites. What would be the benefit (in dollars per day) derived from increasing the number of campsites to 600?
Suppose the aggregate daily demand for campsites in Yosemite Valley is: Campsites demanded each day = 1000 - 10*price, (q=1000-10p) where the price is a daily rental rate ($/campsite). Suppose Yosemite Valley currently has 500 campsites. What would be the benefit (in dollars per day) derived from increasing the number of campsites to 600?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Suppose the aggregate daily demand for campsites in Yosemite Valley is:
Campsites demanded each day = 1000 - 10*
where the price is a daily rental rate ($/campsite).
Suppose Yosemite Valley currently has 500 campsites. What would be the benefit (in dollars per day) derived from increasing the number of campsites to 600?
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