You have been commissioned to estimate the demand curve for admission to LakeSaint- Michel, a recreational fishing site in France. To do this, you spend a daysurveying visitor to the site.You divide the area around the site into 3 zones. You ask each person you interviewwhere they come from. Based on that information, and figures on annual attendanceat the park, you are able to calculate the annual number of visitors from each zone.Your data are shown below.For each zone, the total travel cost1 euro per person for each kilometer traveledto and from the site.One-WayDistance fromParkOriginTotalNumber ofPopulationUsers(in kilometer)A6.25125,00018,750B12.5937,50093,75018.751,250,00062,500а.Express the relationship between per capita visitation rate (R) and travelcost (TC) in an equation.b.Suppose a fee were charged to enter the site. What is the per capitademand function for each origin? Please express the relationship inan equation.Calculate the number of visitors and consumer surplus if no fee wereС.charged to enter the park.

Answered: ased on that in

Business

Accounting

ased on that in

Essentials of Business Analytics (MindTap Course List)

2nd Edition

ISBN:9781305627734

Author:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson

Publisher:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson

Chapter7: Linear Regression

Section: Chapter Questions

Problem 3P: Jensen Tire Auto is deciding whether to purchase a maintenance contract for its new computer wheel...

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