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.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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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.
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