Are consumers better off or worse off as a result of the demand increase?

The Ministry of Tourism in the Republic of Palau estimates that the demand for its scuba diving tours is given by Q^D = 6,000 – 20P, where Q is the number of divers served each month and P is the price of a two-tank dive. The supply of scuba diving tours is given by Q^S = 30P – 2,000. a. Solve for the equilibrium price and quantity. b. Find the value of the consumer surplus received by divers visiting Palau. (Hint: It may help to draw a graph.) c. Find the value of producer surplus received by dive shops. (Hint: It may help to draw a graph.) d. Suppose that the demand for scuba diving services increases, and that the new demand is given by Q^D = 7,000 – 20P. Calculate the impact of this change in demand on the values you calculated in parts (a) through (c). e. Are consumers better off or worse off as a result of the demand increase? How about producers?

Create a list of causes for the story or event.

This week you will prepare a Cause and Effect Essay (assignment directions are in the Topic 4 Folder). Watch the local news or go online and read news as presented….

What are the key areas of the nonprofit are you seeking to change?

How to Apply for a Grant You now have a compelling problem/need statement written, so you’re well on your way to applying for that grant. But the funders are going….

create a policy and process document (3 to 4 pages in length) to provide the structure necessary for your lab environment.

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